Planned to get long the panic washout at 5.20 area 3/5 size. I wanted to protect this week's profits, and I knew if ZSAN got crazy like I thought it might,--300 shares would be plenty. I was looking at that 4.90 level as the line in the sand I wanted to see hold. In hindsight, I should've put my orders down there more towards $5 rather than 5.20 avg.
I let it work, and thought it was going perfectly to plan when it bounced off 4.90s and looked like it was gunna squeeze. But then the volume just wasn't strong enough. I should have got out when vwap couldn't reclaim by 9:45AM. This would have been small winner of 20+cents, but I wanted to be patient with bigger picture idea. I think I was trying to make the market give me what I wanted, rather than what it was willing to give. I need to book profit on my first trades of the day sooner.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-02-22 09:39:46 | ZSAN | buy | $5.300 | long |
2019-02-22 09:40:03 | ZSAN | buy | $5.230 | long |
2019-02-22 09:53:10 | ZSAN | buy | $5.020 | long |
2019-02-22 10:26:36 | ZSAN | sell | $4.680 | 0 |
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