- Did not have a clear exit plan. Panic Sold.
- Poor choice of strike price
- Entered in a dangerous zone, stops too tight. Did not trade levels.
Trade 1 Mistakes: Did not have a clear exit plan. Panic Sold. I ALMOST didn’t, I’d clicked a price in active trader but had held down the click button thinking the platform wouldn’t execute my order until after I released the click, but the moment I clicked down the order had been placed. I have a talent for picking the exact bottom lmao. Should have sold the news at the open.
Trade 2 Mistakes: Choice of strike price. A hard lesson I’m learning now in my first trades with stocks other than apple. I was in the green for a moment, but I did not take the profit, hoping that there would be more room for upside, but even though the underlying price trended within a range and not broken below my initial stop level, my contract has depreciated considerably. If I’m going to be trading new issues, I need to be trading ITM strike prices if I’m going to continue trying to scalp or capitalize on short term movements.
Trade 3 Mistakes: Entered in a dangerous zone. Stops too tight. I saw the break of level with volume, and treated volume as confirmation, but I should have considered the large move up before the break of this level and realized that there was a good chance the volume was an indication of a blowing off top. Another mistake seems to be my stops being a bit too tight, and easily triggered. I should have given the stock more room to move, and had my MSL around 19.5 instead “Place your stop where it’s hard to get to”.