TSLA followed the marked down and was really weak. To my surprise.
My levels for support were 336.50 331 329 325
I ignored them!
I had no reason to go long 335! There was no confirmation besides the offer stepping back up above 335.
I was patient to wait for 331 support to hit, but made the mistake to blindly place an order there without waiting for a reaction to get a better average.
When there was a reaction I added giving me too much size in total without the expected reaction. I remained calm though.
For the next add I waited for confirmation, but again no follow through. I was not happy about my average below 332.
Instead of adding at 328.50 when I was allowed and more at 328. I just stopped! Giving me a bad average as I though 327 would not hold and we would see 325 test.
Not adding back after the partial losses was the next mistake. 327.50 was tested twice. I did not add back. I have to be more aggressive, but was very insecure about what the market would do.
Market found a bottom and VWAP was hit. Still a loss and within my risk-perimeters. Still a bad trade!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-08 10:18:00 | TSLA | buy | $335.100 | long |
2019-01-08 10:31:00 | TSLA | buy | $331.504 | long |
2019-01-08 10:34:00 | TSLA | buy | $330.843 | long |
2019-01-08 10:40:00 | TSLA | buy | $329.450 | long |
2019-01-08 11:05:00 | TSLA | sell | $330.305 | long |
2019-01-08 11:10:00 | TSLA | sell | $331.007 | long |
2019-01-08 11:44:00 | TSLA | sell | $330.152 | long |
2019-01-08 11:46:00 | TSLA | sell | $331.500 | long |
2019-01-08 11:56:00 | TSLA | sell | $332.300 | long |
2019-01-08 12:01:00 | TSLA | sell | $333.510 | long |
2019-01-08 12:04:00 | TSLA | sell | $333.940 | 0 |
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