Shared by:
alext341
This trade on LBCC was very problematic. This was the company that changed its name to "Long Blockchain" when the cryptocurrency industry was booming in a bubble earlier this year. I tried buying this stock initially on full buying power, but I did not get filled.
Maybe this would have helped me stop out sooner for a profit as it broke down as quickly as it did. What happened was that I felt like I missed out on the move and chased the stock by buying 400 shares at the high of day. Stopped out for a 30 cent loss per share and closed this trade for a $126.38 loss.
I believe I was up about $40 on the day. I really should have just taken this loss with a bit more grace, but, as was typical for me, I tried to make back what I had lost by trading setups later in the day.
Execution detail:
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