Chart History: ABCD Broke out of a 2.5 pivot point yesterday AM and consolidated above it before breaking again in the PM.
Entry:
EOD Close @ 2.7
Stop/Risk:
2.5/2.6/2.65????
Plan:
Sell into AM Spike. Exit if no spike/volume.
Summary:
Bought EOD for GAPUP/AM Spike. FAT FINGER ERROR !! I was trying to cancel my sell order on the ask for breakeven and bailed out instead for a 1cent loss. I was trying to cancel since even though there was no volume I was gonna play off my unclarified stop at 2.65. I would've been stopped out since the proper stop level wouldve at least been 2.6 which was the prior day's PM low.
Problem #1:
My risk level wasn't clarified with a range of 2.5 - 2.65 which became a problem once I was already in the trade. Once in the trade, not having that specified risk level got me hesitant.
Problem #2:
My trade plan wasn't big picture enough and did not consider further steps into a no volume open.
Learning Lessons:
Take my time and define the risk prior trade entry. Stick to trading plan no matter what.
IMTE
This pic is just for fun to look at today.. No catalyst squeeze.
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