tooooo biased and refused to be disciplined and cut the position. Took the first short thinking it failed to go green. Then shorted again thinking momo was about to shift due to weakness. Wrong again but I cut the position at HOD breakout.
Then finally the trend broke so I shorted again. I don't regret my short BUT the ONLY thing I did wrong was not covering when it was hanging above VWAP, making higher lows. This is even more ridiculous than CCXI. It's got ultra low float, SSR on, higher lows, above VWAP. All the indicators pointed me to buy it for squeeze but like Nate said it's 50/50. But either way it could go BIG!!! Perhaps the right and safe buying point is after it breakout HOD and holds.
The only silver lining was I cut my entire position before the massacre occurred. Had I not done so the loss could easily be $10k, $20k or more.
On the flip side, I was toooo biased and difficult to find myself buying it even though all the indicators pointing me to. I was subject to position bias and influenced by pnl therefore couldn't make right decision. But this is what it is. Even though at the time I knew I could get myself into big trouble but still refused to get out my position. I knew that it was the same mistake that I would probably make again. But can't help it!!!! The correct decision at any point in time hasn't nothing to do with pnl or anything else.
the frustration and loss led me to make my 2nd bad trade of the day. I bought it emotionally at $4.60 wanting to make quick $$$ back. All revenge and emotional trades ended the same unfortunately.
Left huge money on the table. The mistake I made was I was assuming it got crowded so I covered. Experience tells me whenever I traded based on assumption/anticipation instead of reaction I either took loss or left money on the table!!!
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