-didn't take the trade into morning push because I was waiting it to get to $8.50 which is premarket high so I could have a better entry. Unfortunately it didn't get there due to tons of sellers in the high $7's and low $8.00. Was playing way too safe and missed the trade. The lesson here is taking the trade anyways but just keep position small in case to add.
the 2nd mistake I made was on my 2nd short and same exact mistake I made yesterday on ORPN-right after I covered it tanked. But the biggest mistake was missing the morning trade b/c if I had good entry I would give it more time to let it work.
-tried shorting into late day bounce and anticipated the washout. Tried there times but didn't have it and it got me exhausted so I covered and then it tanked. Patience is the key in shorting late day fade b/c it's damn hard to time it perfectly and impossible to size in big near the top. The key was to keep position small and ready for adding and at the same time have stop loss price in the mind.
SM was the trade that I am not proud of because I threw the discipline out of window once again. I shorted it because it looks extended on daily chart so have 0 regret for my trade. As soon as it made new candle high that was the sign to get out!!! No hesitation !!!
No comments:
Post a Comment