Shared by:
youngcb1_BOWS
Stock broke past previous resistance and I entered as it began to rest. I didn't have enough patience and I had a little fear so I exited without giving the stock a change to consolidate and gain momentum. So I missed out on that huge spike. In the attempt to recover for my horrible trade I saw a flag develop so I entered with a stop below $12.10. I had a feeling that this stock wasn't going to sustain its highs so I got a little greedy and added another 300 shares before I attempt to get some quick gains. I scaled into the spikes and left 100 shares in the stock just to see if it might continue to go up. The stock pulled back down so I exited.
The lesson learned is to have a looser stop during my first entry as stocks tend to pullback before breaking to highs. Also notice that the stock held around the $11.81 area which was an indication that it was likely to pop up after more bidders buy shares.
Execution detail:
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