Shared by
ckz8780
Daily flag/range break. I had been stalking this for a week or so with an alert at $3.49. I finally decided to start averaging in at $3.35. The next day out of nowhere there was a 5m share block buy and I, in the heat of the moment, clicked BUY at the very top and got a fill for 2000 more at $3.59, which destroyed my average price. Because I wanted a $3.40-$3.45 average on this when I was in it full size, I exited the trade as I felt I was taking too much risk. Very disappointing that it went this way as I knew the trade would still work but the risk was just too much to justify once I killed my average. Good lesson if nothing else. Remain rational and don't CHASE!
2500 shares
+$45.45 (0.42%)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-07 12:55:57 | ZGNX | buy | $3.350 | long |
| 2014-01-08 10:51:21 | ZGNX | buy | $3.590 | long |
| 2014-01-08 11:25:49 | ZGNX | sell | $3.560 | 0 |
Comments
ckz8780
Yeah man I am really bummed about this one. That stupid block buyer fucked everything up. I actually went back in ToS onDemand and replayed that late October spike as well, and it was the same thing. Out of nowhere there was just like 2m shares and it shot up like 50 cents. There really was no reason for me to sell this but after I made my average so high and it didn't keep going, I started to lose faith in it because I figured with a 5m share block it should have just gone HAM right to 4 bucks and it just stalled and then started to drop out. The last thing I wanted was to see it back at 3.35 after I had 2500 shares from 3.54 lol
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damn dude...initial trade was badass....entry 3.35, and instead just exit where you bought at 3.59...would have been killer