ZIOP: I saw it had broken to new highs but was looking for lower highs and the fade. When the first lower highs happened, I was a little late since the HOD was 9.93 and I filled at .75 but I thought it was setting up well and didn't want to be a bitch again and also partly didn't want to miss out on a play that I thought was good. It chopped around for a bit before hitting the prior low of .65 again and right after it hit it just spiked on me and continued to go up and break the downtrend line. I stopped out at .89 (my original plan was to stop at nHOD but I had a feeling this could still go so I just took it off) and it did come back a little to my entry for a higher low where I could have stopped out for flat if I waited but since this just broke out on a 52 wk timeframe I figured it was better to stop out. It then went to nHOD anyway so I would have stopped out anyway per my original plan but then it failed to break 10. It looked like it could go either way so I didn't want to just jump in but after the .85 line in the sand was broken I should have re-entered the trade but didn't. It then washed out the rest of the day...
I am not sure if there is anything to say about this trade. It just didn't work and I was right but just too early. The only thing is I should have reentered as I mentioned above. The only good thing is that even though I lost a little bit, I still took it and for me and my issues of transitioning from paper to real trading, that is a good thing.
Things to work on:
1. Look to reenter the trade if possible and if the setup allows it.
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