Shared by
ckz8780
Nice entry on this and really nice sell on the ask at 6.28 (thank god for limit orders!) Could have done without the wussy sell at 5.98 but damn this thing was so wild and the spread would just open up to like 20 cents out of nowhere (as you can see on my last sell, lol from 6.20 to 5.80 in a matter of seconds). I was up nicely for the day and just wanted to leave feeling good about it! I did see this originally just after 2pm at $5.65 and waited a bit too long to get in when it went straight up to $6. I wish I had gotten that entry BUT I am proud of myself for not being tempted to chase it on that stupid flag at $6, and instead waiting for it to come back for a good entry on the dip. I had an opp to grab $5.77 but it was just too quick. After I saw level 2 bids start piling up under $5.80 I knew it was going to push through that $5.90 barrier soon so I took the $5.88 entry with 1/2 size and then added to it on confirmation through $6.00. Overall really good management I think, with just a couple little quirks. BOOM!
600 shares
+$128.25
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-08-21 14:46:37 | HGSH | buy | $5.880 | long |
| 2014-08-21 14:55:35 | HGSH | buy | $5.980 | long |
| 2014-08-21 14:57:11 | HGSH | sell | $6.280 | long |
| 2014-08-21 15:02:14 | HGSH | sell | $5.980 | long |
| 2014-08-21 15:13:08 | HGSH | sell | $6.210 | long |
| 2014-08-21 15:27:17 | HGSH | sell | $5.860 | 0 |
Comments
ckz8780
Yeah I got filled at the ask since I had a limit sitting out there! if I didn't have that limit I would have never gotten that fill but it's something that comes with experience: on thin, spready stocks it's always good to have a limit to sell vs doing so manually.
As far as the last sell yeah it was under my buy price. I had a mental stop but it dropped very quickly. I was pushing it pretty hard at that point and was just holding lotto shares so I thought this might happen but no big deal, I only had 1/8 position left at that point so I didn't really care if I gave it all back :)
jas0ny
What did you see on the daily that made you want to take this trade?
Jason, it was more of an intraday play. The daily was in momo mode from two days earlier and had a consolidation day the day before this one, then you can see it had a huge rip on the 5 min chart and was just flagging intraday.
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You manages to get the High of the day :-) Nice! So it looks like your last sell was under the buy price? Did you have adjusted stop?