Took SIG LONG near low of day on a hold of 25.50; a nice round whole number. It appeared to be getting accumulated near low of day (nice rounded bottom) and since it was at a perfect whole/half dollar, conviction was even higher for this to work. When I saw 25.51 became the higher low, I got in long at 25.63 with stop at 25.50 (didn't want to risk below 25.50 with fear of bad slippage).
This was a good entry and idea, but unfortunately the trade management could've been better. I wasn't patient enough on the second half, and was stopped out at a bad price. Breakeven should always be the stop when you don't have enough distance.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-17 10:10:58 | SIG | buy | $25.630 | long |
2019-01-17 10:12:42 | SIG | sell | $25.950 | long |
2019-01-17 10:14:29 | SIG | sell | $25.700 | 0 |
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