Biggest losing trade so far this year - although I'm on track to finish the month of Jan barely in the green, I managed to scalp my way back into profit. This is a good example of getting too emotional and stubborn when a trade isn't going your way. I was obviously short biased and seemed to ignore the indicators that screamed end of day short squeeze. I was expecting a sell off end of day and it never came. I even added to the losing trade, which is something you just don't want to do. Although it was difficult to admit defeat in this case I cut my loss and covered end of day to remove any overnight risk. Although the probability of a following green day was highly unlikely, with my share size I wasn't willing to risk it. Looking back at the chart it appears it would have made for quite a short trade, as expected!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-01-03 15:09:00 | RENN | sell | $17.100 | short |
2018-01-03 15:09:00 | RENN | sell | $17.100 | short |
2018-01-03 15:47:00 | RENN | sell | $18.020 | short |
2018-01-03 15:47:00 | RENN | sell | $18.020 | short |
2018-01-03 15:47:00 | RENN | sell | $18.020 | short |
2018-01-03 15:47:00 | RENN | sell | $18.020 | short |
2018-01-03 15:47:00 | RENN | sell | $18.020 | short |
2018-01-03 15:47:00 | RENN | sell | $18.020 | short |
2018-01-03 15:47:00 | RENN | sell | $18.020 | short |
2018-01-03 15:47:00 | RENN | sell | $18.020 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | short |
2018-01-03 15:54:00 | RENN | buy | $18.600 | 0 |
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