I overtraded this one. I was sticking to my hypothesis too much and didn't read the chart, just forced trades. Tried this one 3 times and it failed on me. I liked the premarket volume, so I thought it had a chance to break the premarket highs. I missed my fill on breaking the first 1 min candle and got filled at the top. I then added when it broke the flag on the 1 min chart thinking this could have a quick pop towards $5. But it failed.
My first entry was a mistake and was NOT one of my setups, but the break over $4.60 for the move to $5 and to break the pre market highs was a good entry. That one just didn't work.
I then "thought" I saw a flag on the 1 min but that was just me being stubborn and not listening to the chart. And the same thing happened on the 5 min chart. Just over traded this today.
First idea was good, but the 2nd two were me making up setups in my head.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-02-24 09:31:59 | CEMP | buy | $4.550 | long |
2017-02-24 09:34:41 | CEMP | buy | $4.600 | long |
2017-02-24 09:35:38 | CEMP | buy | $4.700 | long |
2017-02-24 09:36:52 | CEMP | sell | $4.500 | 0 |
2017-02-24 09:44:33 | CEMP | buy | $4.550 | long |
2017-02-24 09:48:07 | CEMP | sell | $4.250 | 0 |
2017-02-24 10:07:22 | CEMP | buy | $4.400 | long |
2017-02-24 10:10:17 | CEMP | buy | $4.350 | long |
2017-02-24 10:17:49 | CEMP | sell | $4.250 | 0 |
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