Started the day with a losing trade. Tried scalping a medical marijuana stock IGC at 1.55 in the opening range for a flat-top breakout. The ideal price entry really should have been at 1.50, which is where the stock broke out, but I ended up being 5 cents too late. When the stock was failing to follow through on choppy price action on the Level II, I stopped out break even.
The stock was gapping up on news and had previously been trading below 1.00. John L10, an expert trader in the chatroom, also mentioned that this stock had a lot of insider sellers. I lost $10.08 for a net realized loss.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-12-26 09:32:09 | IGC | buy | $1.550 | long |
2017-12-26 09:32:16 | IGC | sell | $1.550 | 0 |
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