I made a few mistakes on this stock today. At the open for the ORB setup, it wasn't the cleanest setup and I went in too big. Also, on the daily chart, it wasn't the biggest resistance level, but there was still a level of resistance that this was around and couldn't break today. The market was also taking a shit today, so a combination of a C quality setup, longing into minor resistance, bad luck on the SPY taking a shit, and going in too big because I was cocky for starting the week good caused for an unnecessary big loss. I did stop out at the right time though.
On my second trade, I saw that this stock was consolidating sideways but again, still wasn't very clean. At the point when I was thinking about entering, this started to spike with some volume. I chased and got filled on all 4 partials at $24.20 and it sold off very quickly and I had to cover everything for a loss. So I chased. The setup was good, but I chased so it was another big loss.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-05-17 09:32:04 | CHRS | buy | $24.150 | long |
2017-05-17 09:33:06 | CHRS | buy | $24.200 | long |
2017-05-17 09:33:52 | CHRS | sell | $23.950 | 0 |
2017-05-17 09:57:24 | CHRS | buy | $24.200 | long |
2017-05-17 09:57:25 | CHRS | buy | $24.200 | long |
2017-05-17 09:57:25 | CHRS | buy | $24.200 | long |
2017-05-17 09:57:25 | CHRS | buy | $24.200 | long |
2017-05-17 09:57:33 | CHRS | sell | $24.150 | long |
2017-05-17 09:57:42 | CHRS | sell | $24.000 | long |
2017-05-17 09:57:47 | CHRS | sell | $24.050 | 0 |
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