At this point, I was up over $400 on this ticker. I had nailed it. I needed to have the composure to not re enter any trades, and I didn’t. This is a huge problem for me. Maybe I need to shut the computers down after I nail trades… I don’t know the answer. I was very patient on the wash from 6.65 high, and didn’t buy back in until I thought I saw the bottom at 5.50 hold, and instead of putting my orders in down there in the 5.50’s, I chased long into the rebound strength and bought the top at 5.88. It then washed super hard over 50 cents and I stopped out at the bottom at 5.32.
1 minute after I stopped out at the bottom, ZSAN ripped shorts faces off from 5.20’s to 5.80, and I got long again at 5.86. This was me revenge trading because I thought “see, I knew it was a trap. I knew they were going to rip it back up.” Then, even with the chase, I was right again, and it ripped to 6.20’s right before the close. This was my biggest mistake. I only took 1/3 off at 6.22 for a .36 cent gain, in hopes that after hours would get crazy and I could exit the final 200 shares at 6.40’s… All was going to plan, and it started squeezing more after hours, and then I risked all my gains and then some for a few extra cents. It hit all the way up to 6.28 before it cam crashing down. I was up .50 cents on the final 200 shares, and ended up stopping out at 5.43 for -.43 cents making it an $86 loser. This was a terrible decision. I was greedy. I should have taken it all off. I should have taken it all off before the bell in the 6.20’s like I did with 1/3 of the position. That was a 36-cent gain, which is $108 gain on the trade with just 300 shares, that was high risk to begin with. I was stupid and paid for it.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-02-21 15:26:45 | ZSAN | buy | $5.880 | long |
2019-02-21 15:39:43 | ZSAN | sell | $5.320 | 0 |
2019-02-21 15:44:44 | ZSAN | buy | $5.860 | long |
2019-02-21 15:58:16 | ZSAN | sell | $6.220 | long |
2019-02-21 16:18:44 | ZSAN | sell | $5.430 | 0 |
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