WAIT for pivots to stop against.
Take MY PIECE. Peace.
Daily setup: After massive daily runup, bearish engulfing yesterday (Friday). Today inside day. Looking to short
Entry/play: Near day high and premkt high, spy stalled. short (today exp) for reversal.
Management: Initial stop ndh. Trailed down. It kept holding vwap, and then stopped me on a reduced stop.
Psychology: This is a case of money burning a hole in my pocket. This 32% loser was only -$12, and I wouldn't take this play with a bigger size. On the other hand, definitely I could have kept my $12 if I didn't succumb to money burning a hole in my pocket. Just say no to money burning a hole.
