Chaddo
1
Chaddo Sep 08, 17 4:20 PM

Don't feel bad about it buddy, good lesson learned. I did almost the same trade as you, then tried again on the second minor spike - and squeezed again. We were in the right ball park, at the right game, just a bit off on the timing ;-) Multiday resistance around there, with a bad sushi type chart = long term bag holders, making it difficult to spike too much, also, markets were down. We'll do better next time :-)

Skiwi
1
Skiwi Sep 08, 17 6:51 PM

It's okay no worries, my advice is short the higher low - best case you win, worst case - you lose a little, not a happy case - you miss out and a higher low never happens, it just keeps crashing, but you don't lose anything

karubin1224
karubin1224 Sep 08, 17 11:48 PM

@Chaddo hey there, thanks for your reply. i did see the bull flag formation and still got in so thats all my fault, but it is really nice to have a plan that would have played out if my timing was better. i was too emotionally shook to try to short again at the $6.50 retest/failure so i need to try not to let my emotions get in the way of trading. really bad sushi chart and massive short squeeze yesterday made me short-biased today so i am proud that i would have been correct. we will do better

karubin1224
karubin1224 Sep 08, 17 11:57 PM

@Skiwi hey skiwi, thank you for reading/replying. after the spike to $4.45, I was thinking that $4.39 would be the shorter high which was why i shorted there. i overlooked the importance of the bull flag formation as i was so short biased, which was why i got in at that bull flag formation and squeezed out. had i shorted at the second $6.50 retest, the risk would have been way less and i did see that but i was too emotionally drained to pull the trigger. need to watch for next time.

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