Gross PnL: -$1571.
Net PnL: ~ -$1630. Didn't take note of exact figure, but go with this, probably a slight exaggeration.
Sitting there looking at SINA with a thought process like this:
(1) Probably want to be prepared for a new high, so I'll wait to short at the high or high. Next minute I short at poor price.
(2) Okay here comes the new high - it makes a nice wee wick into new high and pulls in. With good entry I would have been covering at least half into washes here.
(3) Okay now it shouldn't make a new high, but it's tightly consolidating at the high so I probably ditch the trade for a sizeable loss.
(4) Makes the new high - at this stage I think it's confirming the uptrend and could easily go to 102... Naturally that's what it does.
So why didn't I stop, why did I enter early?
(1) Proximity to PDT encouraged me to be stubborn because don't want to topup account.
(2) Enter early I think is performance anxiety.
(3) Lack of hard stop entered into marketplace.
WB was much the same.
Going forward I think clear solution is to have stops in place upon entry. Initially I wasn't doing this because it used to be the case that the buying power the stop tied up got in the way... But I'm not doing any size at the moment, so that won't be the case.
Side note: The massive lag upon doing stop order that I've been experiencing means it needs to be in place before entry order.
Side note about today. Absolutely nailed SNAP. Exactly how I want to be trading. Even had good patience for reshort.
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