Friday, March 30, 2012

INVN: Swimming with gators.

This was stupid.  I bet on a reversal of a strong down move.  I survived buying 500 at 17.80 which I traded out of for $140 gain.   The risk to reward wasn't great on this trade.  I pushed out of the entire position because I didn't want to hold it into the weekend.  

Triage:  I think I was pissed at myself for letting this turn from a profit to a loss earlier this week and I wanted my money back.   This was an impulse trade (The elder impulse system would expressly would forbid it), and I should not have taken the trade.  That being said, I made money but I cannot count this as a good trade because I broke my entry rules.  I was in for 1% R which very nearly got hit. Again,too much for this type of "falling knife" trade.

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