Way to big of a position to begin with. There was not set-up here and I was just chasing it upwards while it was getting extended. I entered 2000 shares at 2.355 and had a mental stop at 2.28 but did not follow it. I got lazy. I ended up selling it directly on support at 2.235. I re-entered 1000 shares at 2.275 on a break of the trend line and VWAP. I had a stop at 2.22. This was a much better entry and set-up, if only I had entered 2000 shares here. I think I lacked the confidence in the trade after losing $260 on it at the open. But this was a new trade and I had to forget what had just happened...easier said then done. I ended up entering another 1000 shares at 2.335 as the stock was moving in my direction and giving me more confidence in the trade. I scaled out 500 at a time into the spike, lucking out on the last exit by almost catching the top.
Execution detail:
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