Shared by:
andrewb_bows
I have been watching oil and energy names for a rubber band set up. I went in to ERX with the intention of buying two 1/2 positions after the immediate spike this morning. I anticipated that could be the bottom and was trying to piece in to the pullback. I followed my plan and stop even though I felt it was a poor decision after entering which is a positive I should have waited for a quality set up, like I had on COP and played later in the day. No reason to be aggressive on something that has been so weak and hasn't shown it wants to bottom yet.
Execution detail:
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