Wow That Was Dumb: Visa (V) Trade

Wanted to capture a bad trade I had based on letting emotions get the better of me which ended up in a loss on the trade and getting to watch the stock rally the next day.

Entries and prices on V shown below:

Daily Chart as of 17 July 2014

 Timeline:

Bought 1 contract on 3 July because i was just coming out of Daily Squeeze, it had just broken above previous resistance at 216, and hadn't made its move yet. [Red box on 1hr chart] Added a second contract on Tuesday 8 July because the squeeze was still valid and it was a good reason to add another to bring the cost down (it held the 9SMA) [Purple Box].  Woke up on Thursday 10 July to 25 point drop in S&P (/ES) everyone on twitter (listening to people on twitter...yup that was dumb) was going on about the crash of 14 so I sold the position at the open before I even gave the market time to react (it actually sold off but shook it off pretty quick).  Friday V had a good recovery and Monday it hit the target of 221.

1hr chart showing buying and the rally on monday

Daily chart with targets

Lessons Learned:

1. 1. F**k the hype, watch the market to see what the price action says.
2. 2. Follow the trade plan. Since we were trading off of a daily chart a close below the 9SMA would have indicated time to close the trade or at least an evaluation if the trade set up was still valid. The trade was still valid as we closed green that day (10 JUL) and the following day.
3. 3. I generally do not sell on market open unless I planned to flip a stock in the AM. The market is pretty chaotic the first 30 minutes and its bad form (FOR ME) to initiate new positions (except under special circumstance) between 930-10am.
4. Was looking at a loss at the open. Understand loss sizes in relation to price movement of the stock and its working range. Keep emotions in check.