From watch list: Overextended, won't chase, rather wait for a dip buy with 2.05 as support, goal is to make 15/20 cents/share.
Entry: Got in at the exact top thinking it was a HoD B/O and that it would keep going - I forgot all the rule: 3rd green day of the runup on a stock that doubled. Got spoiled from the recent crazy runners. Got in with risk at 2.70.
Exit: Obviously I caught the exact top BUT I was on the long side, so as soon as I saw it dropping and hit my risk level I got out.
Comments: Why did I chase? Because I saw it moving up for what I thought was a morning spike. Was this eventuality in my watchlist? No, because a supernova up 3 days in a row with the third day being the day with most volume and bigger price move is usually the last up day of the move and has good odds of reversal. I forgot the lesson and I got burned. Only lost 84$ out of $900 position, so only 9%, but the whole trade was wrong. At least I cut losses quickly.