$PCG was on my watch list for a trade fading the ema. It occurred but usually I wait for confirmation. It was traded around and I admit I have got influenced by that. So I deserve this loss. I am not setting hard stop losses thus I am more vulnerable, indeed even if I have planned a stop of 0.25$ I didn't have the time to close it before cause the volatility was crazy against me. I have stopped it as soon as I could. Result: I have got a loss cause I have been cheating with myself, as well if I was making a profit out of it. I don't trade the breakouts, I always wait for confirmation or any signal that would confirm the trend. $PCG had no signals or orders that could let me short it, and the fact that it crossed the ema it's not enough for me to enter the trade. I deserve this cause it ruined my daily average profit. Next time I will watch out cheating myself in such pathetic and miserable way.
I use this little chart in association with candle stick to have a view in the specific. Do you see anything red in this chart?
That's why I would not have traded this thing today! It's 2:30 PM now and the stock still didn't move at all!!!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-07 10:12:06 | PCG | sell | $18.950 | short |
2019-01-07 10:28:20 | PCG | buy | $19.360 | 0 |
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