Shared by
jmos_BOWS
Play: ORB
Gapped down, opened weak, wait for it to have some type of resistance and shorted not eh way down. Sold 1st target when there was resistance and then put stop at buy price. For 2nd target, I thought it would flush once it broke 9.50 which it did but as it seemed to bounce of 9.40, I sold which is when it broke down some more all the way down. Not well managed as I should have waited longer and see how it goes.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-05-15 09:38:23 | DANG | sell | $9.680 | short |
| 2014-05-15 09:40:34 | DANG | buy | $9.510 | short |
| 2014-05-15 09:44:12 | DANG | buy | $9.390 | 0 |
Comments
Markmandy54
jmos_BOWS
You are totally right. The level of resistance I saw was from times and sales. A lot of buyers came in at 9.50 and didn't want it to bounce and become a loser so I took profit there but on the chart, there isn't a real reason to sell as you mentioned. As far as the 2nd exit, NO REASON AT ALL! I wanted to keep it till 9.30 at least and see how it reacts around there. I screwed up that one big time.
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I think you mentioned this, sorry for repeating if you did... but I think you sold both of these too early. Meaning, I'm not seeing a particular reason2exit. You mentioned that you sold when there was support, but I don't see it on these charts.
I'd have a look and see if it is a theme that you aren't holding your winners.