Re entered because as I sold it was uptrending and with a double bottom forming as possible VWAP breakout was possible. AGAIN I got caught in my head of the potential profit that I decided to use 1/2 size and impulsively added another 1/2. So now I was sitting with full size with the hopes of a VWAP breakout without a define risk lvl. My risk lvl was if it goes against me. And of course the stock went against me and I froze like a deer in headlights because I knew I was already red, not just on the trade, but on the day as well. I turned a green day into a red day.
Very eye opening what I am seeing in my trading. Whenever I get in again after a win with a cushion I always give some or all those gains back. From now on when I get a good trade in the morning, doesn't matter the PnL (# wise), I will just sign out my IB account to prevent myself from reentering. I will however keep watching price action along with level 2 and the tape to get better, but I won't enter again.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-06-03 10:07:00 | WISA | buy | $3.480 | long |
2020-06-03 10:08:39 | WISA | buy | $3.450 | long |
2020-06-03 10:10:50 | WISA | sell | $3.320 | 0 |
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