Up nicely 2 times but didn't take it! frustrated and covered.
Mistake #1: Morning push, long upwick then pullback and $6.60 looks like big seller there. shorted twice into volume push anticipated snap but wrong, cut everything at high $6s.
Mistake #2: Then it pushed above HOD then snapped back and hanging around VWAP so I reshorted but again wrong!!! It snapped below the support but didn't panic instead it grinded back up!!! that's BIG red flag!!!!!!!!I should have cover everything but instead I added to loser!
Mistake #3, same as SMMT, I emotionally went long into the strength HOD weak breakout stuffing action then got fucked again.
I was on the edge of giving up!! Deep down in my heart I couldn't take it anymore. looking at Suretrader's spreadsheet, I have been taking big losses every single day recently. So I went out for lunch and thought about it and came back with plan. After 2pm if the stock still held up I will try one more short near HOD risking $8 over/under. It did what I wanted but not exactly what I wanted. Lots of emotional market cover happened near the top and every time when the print hit offer it snapped back down!!! That further added confirmation to my trade so I ended up shorting 8k shares with $7.92 avg.I needed to make sure $8 peak out a couple times or I would cover at $8.10s, 8.20s. Basically risking $3k with potential reward more than $10k. Glad I was on the right side and turned red day into green day. Same setup as CRBP yesterday. Definitely not easy!!!! If you are early and entry is bad you can get smoked!!!!!!! Emotions and psychology play huge role in decision making!
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