Two attempts here,
First the gap up pre market and it had a very nice bull flag sitting on 58 level. I entered there and new there would be an initial pop on the open. I missed my first scaling point since I didn't have the limit order in already otherwise this would have been a winner. Then, I got desperate and kept thinking it would come back, great recipe for disaster and took a decent loss. Stop was supposed to be at 58.
Second attempt I thought it had found a base and would bounce a bit, I even added to it once it started to bounce, smaller loss on this one.
Set stops and limits, follow the trade plan, don't take revenge trades. I need to decide whether my trades are great setups and should scale out, or whether they are scalp trades and take the quick profit. My premarket entrance should have been a scalp and quick profit, perfect risk to reward.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-11-14 09:24:02 | SCTY | buy | $58.200 | long |
2013-11-14 09:24:04 | SCTY | buy | $58.200 | long |
2013-11-14 09:34:22 | SCTY | buy | $58.750 | long |
2013-11-14 09:34:30 | SCTY | buy | $58.795 | long |
2013-11-14 09:43:16 | SCTY | sell | $57.500 | long |
2013-11-14 09:43:16 | SCTY | sell | $57.500 | long |
2013-11-14 09:43:16 | SCTY | sell | $57.500 | 0 |
2013-11-14 10:03:23 | SCTY | buy | $57.160 | long |
2013-11-14 10:03:27 | SCTY | buy | $57.010 | long |
2013-11-14 10:13:13 | SCTY | buy | $57.400 | long |
2013-11-14 10:13:13 | SCTY | buy | $57.400 | long |
2013-11-14 10:21:56 | SCTY | sell | $57.010 | 0 |
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