Traded on texmex and John welsch's idea and nailed it. Used size-18k shares ss. Should give it more time and let it work.
finally closed DRYS swing short on 6th day. Ridiculous management of the trade. Used size due to conviction and want to cover it at sub $1 or next r/s but man everyone has the same idea and the opposite happens. Yes the fact is Kalani still has 30m to sell but what if he doesn't sell and more and more shorts pile in. What if all the asks on lvl2 are shorts?!!! I could have covered way earlier but kept sitting and waiting telling myself this is the type of stock "staircase up elevator down" but saw it inching up bit by bit and finally the pain reaches the max and I covered all. I had chance the cover at $1.50s, $1.60 but didn't. Then one big 400k shares green candle shoot up the sky and I can't take it anymore so I covered. It peaked at $1.85 today so I didnt' cover at the top but still the pain and loss could be less!!!!!!! The lesson is when you swing make sure selling is there!!!!! If not there and found bids it could reverse faster than you think. Remember PRICE OVERRIDES EVERYTHING!!
It's frustrating at the end because I had a plan but I didn't follow it. I told myself if it break above $1.50 I would cover but the heck every push above it seemed stuffy so I kept waiting and hoping. When you go from up big to breakeven then down big, it's not a good feeling and it's hard to stop out! It's just very difficult!!!!
No comments:
Post a Comment