Shared by
d3totherescue
Believe this: I did not make money on this stock today.
Why?
Position sizing is key. Did not size up enough on the first move, and then tried to make up for it in the second move. The second move just squeezed me! Good thing I had a a hard stop or else I would've panicked and marketed out.
I was confused about the squeeze on this stock because the volume was not extraordinary. It was 1.3x Volume on the hourly candle, but that's not amazing. I thought the stock would come lower, and it would give me another chance to short, but it did not. That is why we have to respect our stops and not get emotional.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-06-27 09:51:00 | AVEO | sell | $1.880 | short |
| 2017-06-27 09:56:00 | AVEO | sell | $1.780 | short |
| 2017-06-27 09:57:00 | AVEO | buy | $1.770 | short |
| 2017-06-27 10:21:00 | AVEO | buy | $1.830 | 0 |
| 2017-06-27 10:58:00 | AVEO | sell | $1.860 | short |
| 2017-06-27 11:16:00 | AVEO | buy | $1.950 | 0 |
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