I was short TV, which is a beautiful chart.
However, the moment the market opened, I heard my trading terminal issue the trade-closing sound “ping!”. I glanced at my spreadsheet and was puzzled, because it showed the price still well within the limits of its stop price. However, when I glanced at the intraday chart, I saw this………..
So basically one trade – – my trade — was executed at a high price, and THEN the market behaved itself as God intended (see subsequent price bars).
I was pissed, so I called my broker to bust the trade. No-can-do. Tough titties. Live with it. That’s where the market was.
Stop loss orders are always in place for my positions, but honestly, stuff like this makes me wonder if I’m shooting myself in the foot. I re-entered (at a worse price). Rant over.
On a more cheerful note, I seriously think Amazon has peaked. I shorted it yesterday, and I added to the short today. this pattern goes back 17 years.