Setup: Bull Flag Breakout
- Bought the bull flag breakout; bought in increments to average in, anticipating the breakout
* Mistake: I didn't add size when this was my favorite setup and all indicators lined up, or even as the stock held the breakout level
- Sold half after stock pushed through a bigger breakout level
- Added back the position after stock broke out again from a small bull flag consolidation pattern
- Stopped out of whole position once stock made a clear reversal, dropping below prior bars and ema's
* Mistake: I didn't sell half the position at the 41 area like I normally would; I typically sell around the 50c and whole number levels, and sometimes the 25c/75c levels as well; I actually had a stop at exactly 41, but stock came a penny short with a high at 40.99
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-10-22 13:56:48 | NLNK | buy | $38.270 | long |
2014-10-22 13:57:56 | NLNK | buy | $38.335 | long |
2014-10-22 14:11:01 | NLNK | sell | $39.740 | long |
2014-10-22 14:36:43 | NLNK | buy | $39.930 | long |
2014-10-22 14:52:32 | NLNK | sell | $40.230 | 0 |
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Nice play.