Shared by
youngcb1_BOWS
Entered this stock late as well. Flat top setup began to form. I entered with a stop at 49.95. This stock dropped almost 50 cents passed my entry but I chose to not exit and give back all my profits for the day. It support at 49.60 and once SPY started to uptrend this stock began to follow it. It broke upwards past my entry and I scaled out my first half of shares as it hit resistance. I wasn't sure if this stock was going to drop back down to my entry so once it came to a significant halt I just exited the rest of my shares. However, after the fact, I exited prematurely as the stock had another big move the upside for $1 plus. I left a lot of money on the table.
After yesterdays losses I just wanted to secure profits today to get back on my feet. So basically I let my emotions dictate how I played this trade once I was in profit.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-12-17 10:45:42 | EMES | buy | $50.080 | long |
| 2014-12-17 11:01:24 | EMES | sell | $50.380 | long |
| 2014-12-17 11:05:55 | EMES | sell | $50.480 | 0 |
Comments
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Yeah those high flags are tricky to play when the ema's have not caught up with the trade yet. Something that takes time to get use too.