Shared by
boldandnuts
Not my best trade and the one time I was weak yesterday and doubled down.
BABA felt extended and I "expected" the 156 to hold the full dollar and I went for a short gamble. Nothing else to call it.
Immediately doubled down once the 156 was taken. Which was very stupid.
Then, I got myself together and waited for a better opportunity. JUST TO GET OUT.
BABA consolidated and I was waiting for a break. Which did not happen. I did good not taking a trade or attempt to short more as there was clear support above yesterdays close.
BABA broke higher and I went for another stab at 157 WITHOUT reason.
Then BABA spiked higher! REJECTED! THE sign I should have waited for. BABA tested 157 a moment and I added another piece and watched it drop.
Should have waited for the backside trade and retest above 157 again. That would have been ONE EASY TRADE with patience.
I was very calm during the whole trade and not very worried about it. Very aware of the situation once I was in the trade.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-09-11 09:47:00 | BABA | sell | $156.053 | short |
| 2018-09-11 09:47:18 | BABA | sell | $156.340 | short |
| 2018-09-11 09:52:00 | BABA | sell | $157.090 | short |
| 2018-09-11 09:54:00 | BABA | sell | $157.010 | short |
| 2018-09-11 09:55:00 | BABA | buy | $156.740 | short |
| 2018-09-11 09:58:00 | BABA | buy | $156.570 | short |
| 2018-09-11 09:59:00 | BABA | buy | $156.610 | 0 |
Comments
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Tough trade on BABA in the first 30 mins!