Foolish trading. Didn't wait for low risk entry.
I missed the perfect setup flag at the 2.30 area and watched it as it ran all morning waiting for a setup. After a P/B and bounce i entered (chased) a very extended intraday stock. I need to learn if i am going to even attempt an extended stock long, i need to hit the entry quick, and get out quick. As soon as i saw after my entry it turn into a lower high, i should have exited and thought short. Big lesson!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-10-16 10:27:56 | GURE | buy | $2.970 | long |
2013-10-16 10:33:18 | GURE | buy | $2.710 | long |
2013-10-16 11:05:20 | GURE | sell | $2.570 | 0 |
adding to these losing positions killed you. That's one of my rules is to never do that.
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It was to extended.. Easy money was over