Parabolic short. First candle bounces off the round number 7.50. I was watching to see if the second candle would break through 7.50to invalidate the short and when it bounced off the 7.49. I entered a short position at 7.47 and put my stop at 7.53. My ideal exit would have been 7.01 for .48 cents but I looked away for a moment and it was back to the 7.19. Scaling would have been ideal here but I didn't do that and left a lot of profits on the table.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-10-30 09:35:50 | QTWW | sell | $7.479 | short |
2013-10-30 09:37:59 | QTWW | buy | $7.190 | short |
2013-10-30 09:37:59 | QTWW | buy | $7.190 | short |
2013-10-30 09:37:59 | QTWW | buy | $7.190 | short |
2013-10-30 09:37:59 | QTWW | buy | $7.190 | 0 |
Yes, I find myself in a hurry to take profits for fear of giving them back instead of having confidence with my trade. Unfortunately I let emotions take over.
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Nailed the Top.. Great job!.. just needed to scale out.