OCUL Trade on Jul 12, 2017 11:02 from d3totherescue: Tradervue User Stock Trades.

Setup:

Weak stock which had gapped down. I was looking to short the backside of the move. There was selling pressure on the 3m and 5m candles. I originally shorted the little pop risking 6.20. I added to my short when the 6.00 break came. I covered on the way down.

Why is my stop so high?

It'll never happen again.

Mindset:

Weak stock. I was looking to just short and then cover. It was also, lunch hour so I was not expecting much from the move. I covered my positions. I do not know what I was expecting from the second move. My stop should have been at the pivotal 6 area. Not 6.18!

Improvement:

I knew there could be more weakness on the stock under 6.00. So, I should have had my stop at the 6.00 area on the second short. I should have longed the 6.00 break when my short did not work. I ignored a key area, and it cost me. Know your key areas well, and it is okay to switch a short into a long.