Wrong entry. I chased a not valid setup. VWAP was broken. Both 9ema and VWAP were pointing down.
Went back as my ego got hurt... I guess because I don't see any other reasons. My confidence wasn't the same though. I went half size. Sold when I hit my stop.
My risk for each trade was $50. Which made it a waste of $108 by the time my orders got executed.
PS: Not to use as an excuse (as there are no excuse for my stupid behavior) this was the first time trading in DASTrader. Like having a real platform instead of TradingSim. The level 2 is kinda exciting me a little too much.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-22 09:33:01 | FB | buy | $59.100 | long |
2014-01-22 09:35:37 | FB | sell | $58.860 | 0 |
2014-01-22 09:41:43 | FB | buy | $58.970 | long |
2014-01-22 09:53:00 | FB | sell | $58.370 | 0 |
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The first 30min of trading is very very volatile. If you are going to trade the first 30min, make sure you have A1 setups to play.