Another XGPT play that hit in pre-market. Stock dipped, and I put in the stop-loss for market hours that hit immediately. This was a tight trade plan that I'm glad I followed because the stock kept decreasing and closed at about 2.50. I guess I am not navigating these XGPT plays properly, but I will have to do more studying. I think I need to pay more attention to the volume when the stock hits. I don't always have STT if it is during pre-market. I think I need to work on this.
Entry comments: Entered this short position as the price was cascading down in the morning, but, I did it wrong. I set my entry price a bit above where it was trading because I didn't want to chase and I anticipated a bubble. However, I should have cancelled my order when it dropped so much. I should have waited to see how far the recovery would go. If I had done that, I would have been in at a much better price. As a result, I am holding for the price to come back down.
Exit comments: Closed this trade when the price was going sideways for a bit. I did not want it to rally again. Ultimately, it did fall more, but, feel good about playing it safe.
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