Tuition paid $45.52 9.29

Yesterday did not work out so well for me.  I was eyeballing a sweet setup on the 10 day 15 min chart for YRCW, which was about to break a multi day trend line.  My thought on the trade was to enter into the a bit above where I would be chopped out on a false breakout, and to ensure I wasn't ripped off in price with a market order, I placed a buy stop limit, both at 4.54.

The set up was good, and sure enough the short squeeze caught fire, however I was left in the dust as my stop was hit, but I was left with an open limit order for 1000 shares at 4.54, and no execution as the stock ripped past my target price.  This really frustrated me that I took the time, found an awesome setup, and because I wasn't willing to dive into the melee I missed out on some awesome gains.

The second half of my mistakes today added inslult to injury, as I, even against my better judgement (I tried hard not to look at the chart again since the train had already left the building on the set-up I was watching) I traded YRCW hoping that a bull flag was emerging, and not at a breakout point, within the consollidation range.

Lo and behold I was stopped out shortly thereafter as the price could not hold those levels after such a wild run-up...WTF was I thinking???  Chalk this one up to the first tuition paid to the market for this trader.  Lesson learned, when buying into a short squeeze make damn sure I am ready to place a market order and hold on for the ride.  And do NOT trade a chart again after the set-up I was waiting for has come and gone.