All kinds of issues with this trade. A bad entry was the first problem at $2.39. I then put in another buy at $2.31 as that's where support was, hoping to average it into a better trade--a technique I have failed at before when I tried it. But when I did it before I had no justification for it other than hope. This time, using support levels, it was a much smarter play and something I may be able to do from time to time. UNFORTUNATELY, my computer chose this moment to restart and finish loading an update, so I didn't get my second entry at that point. Instead I was waiting on my computer for it to update. Finally had to go to ipad to finish trade. By this time, I'd missed the pop to the $2.50s where I could have sold for a solid profit and the stock fell down to my $2.31 buy, where it executed. This stock didn't have the continued momentum, so I sold into the bounce at break even. A good thing I had the right take on the stock at that point, because it faded the entire rest of the day. Not a great trade, but with the computer issues this is something I would have panicked and lost money on before, so I'm taking it. It did at least make me think about what my backup plan is when my computer goes down.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-08 09:34:42 | ABIO | buy | $2.390 | long |
2014-01-08 10:11:07 | ABIO | buy | $2.310 | long |
2014-01-08 10:25:07 | ABIO | sell | $2.350 | 0 |
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the first buy was too high. u can't buy first candle. 2nd one noo