Honestly didn't trade that bad tho. Sized in accordingly, observing, stopped out. rescaled in, stopped out again and didn't touch it until 1pm. plan is using $5.40 or HOD as resistance line and looking for EOD fade/crack. got a few opportunities to take profit/at least some but didn't. Grand big picture idea which got me into trouble. Used bit too much size-21k shares and nasty spread and spikebility. Paid the price. Never really thought it would breakout HOD and continue to head upward last minute before the close.
lots of red flags/danger sign from short perspection:
1)massive massive volume..not 20m, 40m, i am talking about nearly 80million traded!!
2)whenever key support cracked, it reclaimed or consolidated just merely below support line before reclaim occurred.
3)my cover order is extremely hard to be executed!!! I should have noted it and left it alone.
4) the main thing is the quality of setup deteriorated after 11am. why push with size? why swing against fence???? not worth the risk!!!! There is always tommorrow!!!
But looking at the bright side. Two of my big covers occurred before it ripped another $1.50-$2.00 in next hour. Shit could always get worse!! much worse than you think!!! keep that in mind!
Market has been sluggish past few days and maybe that's why shorts are itchy and delved in too much too early. I am just one of them. Plus nasty manipulators and algorithm involved. very difficult to trade. I guess I have to go back to the basics. My issue can't be fixed overnight. Still green this month but feeling disgusted of myself due to missing opportunities past few days and maybe that's part of reason I told myself to go big today, for redemption purpose perhaps. that's just pure stupidity of doing this business. I can't take time off therefore starting tomorrow, size down and no more trade after 11am unless padding on pnl. respect your frustration!!!
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