Saw OXY forming a bottom at around 57.8. Got in at 57.86 when there are signs of breakout. Added to the trade at 58.03 when OXY moved up further. This was a mistake. OXY then chopped down immediately. Almost broken through 57.8. As the whole market is moving up, I hang on to the trade. It took too long, then I got out on upswing. After I close out my position, stock start ripping up. Gosh.
What I did Right: First entry is alright. Final add at 57.8 is alright as well.
What I did Wrong: I try to average up and double my normal position size. This add to my psychological pressure, which results in quick exit when things do not work my way.
Where I could improve: Exit is bad. Only got a small profit for the hassle.
Trade grade: E
Execution detail:
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