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Shared by
konradengen

 

XNET

Jan 4, 2018 15:44


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Losing Overnight Rebound

Bought this bitcoin/ China sympathy play as it broke 20.00 for a minute. Almost timing the exact top, haha. Thesis was that It could finish strongly and morning spike the next day. Risk was 19.10 and a gap down when it closed (@ 19.81). Played small size due to a pretty wide risk. Should have waited to see some confirmation on that 20-break as I never just buy the breakout. But lately my problem has been hesitating too initiate positions, and ending up on the sideline. The difference has been the pattern, because I am rarely interested in buying breakouts. It faded a bit into the close, but I still felt quite comfortable, due to the nice long-term chart. Cut the loss pre-market as was gapping down. Don’t really regret this trade as I considered it a nice opportunity. The main red flag was that it was up from 12.50 (60+%) in 8 days.


Execution detail:

Date/time Symbol Side Price Position
2018-01-04 15:44:11 XNET buy $20.020 long
2018-01-05 09:22:14 XNET sell $19.490 0


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