Shared by
kentf_BOWS
Chased this one a little. Bought after it pulled back and bounced again. Ended up getting stopped out.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-05-16 14:14:14 | HDY | buy | $3.480 | long |
| 2014-05-16 14:33:29 | HDY | sell | $3.300 | 0 |
Comments
kentf_BOWS
Yeah I actually had the exact same thought and I bought it anyway. Dumb mistake.
Alvan_BOWS
Also you gotta consider your R:R. You had a 0.18 stop, which means it would have had to hit 3.84 in order to get a 2:1 return. Thats nearly a 40% gain since 1 o'clock. Not a high probabilty of that happening before close especially with the 200ma resistance sitting at 3.86. Don't forget, 2:1 return or don't take the trade, align on multiple time frames, and watch for extended runs.
kunal00
i chased it too i got excited!
i always short this terd too not sure why i bought it oyyeee
Alvan that's a good point. I didn't think this one through. I didn't consider risk to reward on this one to be honest. Newbie mistake.
Kunal that's exactly how I feel about this one too haha
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Looks like it was getting a little extended when you got in. One think Kunal said in one of the webinars was that if we're buying on the 3rd or 4th flag, there's a pretty good chance it will turn against us.