Difficult trade. NVDA traded on rather low volume and I did not trade it well. My bias was short for continuation and here as well I took a starter at an intraday resistance level. Without paying much attention to the tape. Bad call.
I had 145.50 down as level and 148 above that as next. After I was already short 147.50 turned out to be significant as well and I used a confirmed signal to add a final piece.
My final average was just above 146 and the first selloff was a pullback just above my entry. I hesitated taking a partial loss as I often tend to take off the trade too early. Big mistake. NVDA made another leg up to test and reject 148 where I did not add as my position felt too big already for the bad average I had.
The SPY started to reverse and took NVDA with it. I was really lucky and took the trade off as it came my way. This time I took a small loss at the previous intraday level where it reversed the last time. Did not want to risk it. Took more off at break-even when NVDA bounced off back above 146.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-12-17 10:07:00 | NVDA | sell | $144.290 | short |
2018-12-17 10:26:00 | NVDA | sell | $146.400 | short |
2018-12-17 11:28:00 | NVDA | sell | $147.530 | short |
2018-12-17 12:34:00 | NVDA | buy | $146.230 | short |
2018-12-17 12:37:00 | NVDA | buy | $146.068 | short |
2018-12-17 12:58:00 | NVDA | buy | $145.616 | short |
2018-12-17 13:11:00 | NVDA | buy | $145.420 | 0 |
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