I was watching this from my pre-market scan. The way this fell off immediately early had me watching it for a short entry. I saw it begin to fall through support, and I tried to enter. Here is where everything went wrong for me. I was eyeing an entry around 92.40. This was jumping around very quickly, and my limit order ended up being somewhere else. I tried to drag it there in prodigio, and ended up down near 92 instead (my charts were broken today, and I could not zoom, very difficult to see detail). That pissed me off, which probably led to me setting my stop to short more rather than cover. I covered immediately after I noticed what had happened. I waited for it to cal down a bit, and re-shorted with a much smaller position. When I had confirmation of movement I added to my position with a full order. When it began to really drop, I wanted to cover 1/4 at 92, and somehow ended up with the entire thing covering. So I ended up -$90.20 on this trade, had I not argued with prodigio over this I would have been up at least $10.00 even with the first fumbled trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-02-10 10:52:39 | YELP | sell | $92.060 | short |
2014-02-10 11:00:21 | YELP | sell | $93.000 | short |
2014-02-10 11:02:50 | YELP | buy | $93.220 | short |
2014-02-10 11:02:54 | YELP | buy | $93.230 | 0 |
2014-02-10 11:17:31 | YELP | sell | $92.520 | short |
2014-02-10 12:32:44 | YELP | sell | $92.470 | short |
2014-02-10 12:44:47 | YELP | buy | $92.080 | short |
2014-02-10 12:45:16 | YELP | buy | $92.030 | 0 |
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I used to flip sides on my stops alot. Eventually I just stopped making that mistake. Totally get you on platform issues, ToS has been a disaster lately.
Your 2nd entry was perfect.