The better entry on this trade was at $2.70 on the 5-minute chart for a pullback. As I am looking in hindsight at my trades, I'm realizing that I was just jumping into setups without actually allowing the stock to pullback for a good entry. I'm trading the way I did on TIK, or in a strong, parabolic market where it would have been more appropriate to just jump in from one stock to another.
It's important to increase your accuracy by trading actual setups, (i.e. bull flags, flat-top breakouts). It seems like it would be better if you stayed away from micro-pullback entries as these resolve better in stronger markets. Stopped out of the trade for a $60.19 net realized loss.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-12-20 10:00:08 | NXTD | buy | $2.900 | long |
2017-12-20 10:00:38 | NXTD | sell | $2.860 | 0 |
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