Earnings breakout continuation, consolidated after making big run in the morning. Created a huge intraday flag that looked like it would break around 1:40 pm. I made the mistake of not exiting when my setup was invalidated, thinking maybe I read it wrong. I didn't read it wrong, it was just invalidated. I feel like I had too much of a conviction for this trade and that's where I messed up, continuing to think it would bounce. I should have exited for a small loss as it broke under VWAP. Frankly, I shouldn't have taken the trade at all. I needed to have read the pattern better. This took away from gains I had previously made.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-04-27 14:38:04 | IRBT | buy | $80.510 | long |
2017-04-27 15:30:53 | IRBT | sell | $79.890 | 0 |
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