My first mistake was with my entry in $BOSC on Tuesday. I really should have waited until closer to the EOD before deciding to go long or short. The fade into the EOD should have been a big red flag for me not to go long and to maybe consider a short play instead. The second mistake with $BOSC was that I neglected to set a GTC stop loss knowing that catching the opening hour is difficult for me because of my family schedule.
I wasn't thinking about that and logged on to ToS at about 7:30am... and saw that my position had not closed... it was sitting on a +20% loss and roughly $2,700 of a hit on my paper account.
But that wasn't enough for me. I then attempted a short on $CLF with a position at $4.03 thinking that the morning fade was going to continue. It reversed on me and I didn't cut losses as fast as I should have and took a -6.7% hit with a loss of $675. I then made a bit of a revenge trade and attempted to short it again, and again it reversed. This time I had a hard stop set and was knocked out with a -2.38% loss and roughly a $250 loss on the paper account.
I was reading the chart all wrong and looking back now I should have been going long with watching the break out levels
My last trade went better and I was happy with my entry and the position of my stop loss. I took a long position in $IMNP at $0.39 and a goal of hitting the HOD of $0.50. I have a hard stop set at $0.34 and had originally wanted to exit the trade near the EOD. My limit order wasn't executed fast enough and so I wasn't able to take profits on the 3% to 4% gains.