I found this as it gapped up at the open and has recent history of momo. It ran up in the morning and had a flat top breakout. I missed the breakout due to delay on my platform, which probably should have been my sign. I entered after a little profit taking. I chased it and didn't get my entry which messed up my r/r leaving me to get emotional and trade my P/L. I held on thinking it would make another breakout and used up all of my mental capital. I even added right before I thought it would breakout, dumb. I needed to not have a conviction toward the trade and could have exited for a small loss when seeing the trendline had broken and setup had become invalidated. It was too extended on the daily for me to be holding my position as long as I did and expecting the setups to work for this extended of a stock. It was on it's fourth green day after only resting one day and was oversold.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-05-15 12:17:42 | VRX | buy | $14.280 | long |
2017-05-15 14:30:55 | VRX | buy | $14.390 | long |
2017-05-15 15:20:06 | VRX | sell | $14.170 | 0 |
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