Sunday, November 27, 2011 12:31:19 PM
Never mind - I found the post on the cloud and ININ. It was the top of the cloud I tried to short. Actually, I had the alert set for when it broke through the cloud.
In retrospect, I see several errors I made on that trade.
1.) When taking a short position, we are selling first, then buying. The general idea is to sell as high as possible. When I was gaining entry, the stock was going up and I should have left it alone. The reason I wanted to short it was because it broke what I thought was support. I was actually taking an entry when support was coming in. My reason for entering no longer existed.
2.) I should be shorting the backtest at the bottom of the cloud, not the top.
I back dated this chart to get a better idea of what I was looking at. Note to self: try not to do that again.
In retrospect, I see several errors I made on that trade.
1.) When taking a short position, we are selling first, then buying. The general idea is to sell as high as possible. When I was gaining entry, the stock was going up and I should have left it alone. The reason I wanted to short it was because it broke what I thought was support. I was actually taking an entry when support was coming in. My reason for entering no longer existed.
2.) I should be shorting the backtest at the bottom of the cloud, not the top.
I back dated this chart to get a better idea of what I was looking at. Note to self: try not to do that again.
lost 1 to lost 3, are you lost too?
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