Shared by
d3totherescue
Break of Support
Trade Idea:
$15.50 was a critical level in XNET. There was a lot of selling, and I shorted in anticipation of that break. SSR was on this day. It seemed as if XNET would breakdown from the $15.50, but the break did not come.
Risk Management:
Risked the 16.50 area, and that was too much. Risk should not have been higher than 15.85. If the trend break then get out of the trade. You are wrong!
Improvement:
-The price action is right; you are wrong. When the stock was making higher lows, get out!
-Risk management was off. I should not be risking 1:4. It should be 4:1.
-Short on pops of a stock, not on the breakdown.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-01-17 09:37:00 | XNET | sell | $15.770 | short |
| 2018-01-17 10:13:00 | XNET | buy | $16.010 | 0 |
| 2018-01-17 10:14:00 | XNET | sell | $15.920 | short |
| 2018-01-17 12:20:00 | XNET | sell | $15.670 | short |
| 2018-01-17 14:44:00 | XNET | sell | $16.230 | short |
| 2018-01-17 15:57:00 | XNET | buy | $16.355 | 0 |
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