Based on the daily, I had an alert set for a Break out point of $18.00. I executed this trade on the alert at the $18.00 Breakout point. I was stopped out with a loss of $132.00
I realize the mistake is executing on the Break out alone, it's not confirmation enough to execute the order. Volume on the 2nd candle (9:30) was strong, but I should have noticed the diminished volume in the 3rd, & 4th candle and waited, I would have seen the break out wasn't going to hold and could have avoided this loss.
** I'd appreciate any input from anyone that see's this if you would like to share your experience, and opinion. "Thank You"
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-12-09 09:45:31 | BONT | buy | $18.000 | long |
2013-12-09 10:05:13 | BONT | sell | $17.560 | long |
2013-12-09 10:05:13 | BONT | sell | $17.560 | 0 |
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