Squeeze zone play based on callout from Kunal. Got filled on my limit order after that first spike. Unfortunately, I took too big of a position and I had too dump when I approached my max loss (before I even got to my stop). This actually ended up saving my some money.
I've never done a squeeze zone play, so I wasn't very comfortable taking this.
Next time:
I should've kept an eye on this stock. It ended up giving another entry ~20 minutes later.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-09-17 11:56:43 | OUTR | buy | $49.270 | long |
2013-09-17 11:56:43 | OUTR | buy | $49.270 | long |
2013-09-17 11:56:43 | OUTR | buy | $49.270 | long |
2013-09-17 11:56:43 | OUTR | buy | $49.270 | long |
2013-09-17 11:56:43 | OUTR | buy | $49.270 | long |
2013-09-17 12:11:03 | OUTR | sell | $49.030 | long |
2013-09-17 12:11:03 | OUTR | sell | $49.030 | long |
2013-09-17 12:11:03 | OUTR | sell | $49.030 | long |
2013-09-17 12:11:10 | OUTR | sell | $49.015 | 0 |
Honestly I feel like I shouldn't have taken this trade. I didn't understand it well enough to take it. I've made a rule for myself saying, "Be Your Own Man" which means I should take trades on my own terms, have my own plan, etc. Occasionally Kunal will make callouts that aren't necessarily based on good setups (e.g. he has to leave for the day, so he closes all his trades). I'm trying to get into the habit of using his callouts as hot stock tips, rather than delegated trades.
Thanks for all your feedback though, Mark.
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Nice entry, didn't work, good loss.