On this trade i wanted to practice on scaling in. It just so happen that i flipped from going long to short after i saw the initial run up at open, then it found its top, this is where i proceeded to look at this as a short. I completely overlooked the fact this this stock was near its 52-week high so this still had room to go up. Bad recognition on my part. The trade itself was green and could have covered with a small profit but that was not the goal here.I also should have noticed to cover when it bounced the support line of the opening day price which usually indicates a reversal. I wanted to scale in but today the trade was not set up for that. I should have prepared better and not walk into a trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-02-26 09:44:50 | MU | sell | $47.120 | short |
2018-02-26 09:45:17 | MU | sell | $47.200 | short |
2018-02-26 09:46:49 | MU | buy | $47.040 | short |
2018-02-26 10:03:03 | MU | sell | $47.490 | short |
2018-02-26 10:04:04 | MU | buy | $47.610 | 0 |
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