Pretty ugly to say the least. I shorted 100 shares at 109.81 and had mental stop at 110.46. It tested 109.00 support and ended up squeezing out all of the shorts. I completely froze. I had a gain and turned it into one of my biggest losses on a single trade. I covered directly at the top of the run at 112.96. I needed to short and at least execute a stop near my entry to limit my risk. This stock is way to volatile to not be placing hard stops. I battled with this stock for the rest of the day. I re-shorted 50 shares at 109.36 with a stop at 109.84. A revenge trade. I was chasing and there was no set-up. I quickly covered at 109.09 as it began to round up after testing 109.00 support again. I re-shorted 100 shares at 110.43 after it had made a lower high. Still looking for a crack of 109.00. I placed a stop at 110.75. I scaled out 50 shares at 109.29 and the remaining 50 at 109.35 once it found support after breaking below 109.00 for a hot second. The last trade was a big mistake and far to risky. I shorted 175 shares at 109.30 with a stop placed at 110.35. I was expecting it to break this 109.00 level. Having expectations...big mistake. The EMAs were also beginning to flatten and curl up after the price action made higher lows on the 1 minute. As I was watching this I knew the probability of a crack of 109.00 was lessening but I didn't listen. I took a nasty loss by allowing my stop to trigger at 110.43 and not trading the chart.
Execution detail:
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