Bought as price oversold by alot, overtraded so did not hold. Got out asap. Note to self, the reaction after a massive selloff is significant enought to hold for 2 minutes.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-02-05 11:25:12 | NFLX | buy | $84.140 | long |
2016-02-05 11:26:03 | NFLX | buy | $84.020 | long |
2016-02-05 11:28:16 | NFLX | sell | $84.210 | 0 |
Trying a new play and it goes like this:-
1. Price above $75 - for volatility
2. 5 min chart shows price moving out of bollinger bands (20,2)
3. 1 min chart shows price close to outer bands
4. Play the reversion trade of price coming into the bands using the 1 min chart.
So far so good...5 for 5
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I have tried a lot of trades like this. Trying too buy the bottom. Personally found it's not very effective especially in a bear market. I think it would be better too wait for a basing pattern or wait for confirmation when it crosses over MA's or something. I just feel like in trades like this there is too much speculation.