Shared by:
tombro
The trade I wish I hadn't taken.
The concept was an intraday base breakout with maybe potential short covering coming in to boost the stock.
I goofed up my stop, by entering 4.86 vs the 5.86 it was supposed to be.
Corrected to 5.85 stop, and tried to limit out at 5.89 but only filled for 100,
The 5.89 limit order canceled the stop. Limited out the remainder @ 5.82
I need to manage my exits better when a trade is going against me like this by loading a cancel/replace order immediately after sending my limit order to close. Then if my limit doesn't fill, or fills partially, I won't have to delay in sending another order to replace it.
Execution detail:
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I think you had the right idea with this trade but I can see how it became a problem with your stop order being messed up. Good recovery in bailing out though.