Mistake: Tried to force trade and entered too late. Excited ASAP to cut losses just in case. Tried to predict b/o, which faked out. Stock went back up after I exited the position.
Update: after exiting the stock price jumped to $7.56 at the time of writing. I should have stuck to my 5% rule and see it play out, instead I exited very fast and incurred losses instead of gains.