I was early to this trade and set the stop to close to the eighty three dollar support. NKE only dipped slightly below my stop and the proceeded onto 84+ later in the day. I have developed a rule set that if I want to play for more than a few minutes in a position that should always wait out at the first 20 minutes of the trading session. In the case of this bounce play the extra seven minutes are so would have made this a madly profitable trade. But, it ended giving me a loss the equal my win form the prior Friday on NKE. I would say then one thing that I am learning almost every trade is be a little more patience. These positions do not tend to find new support or resistance inside of a trading range that it has been in for a couple of days.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-03-26 08:42:03 | NKE | buy | $83.340 | long |
2019-03-26 08:50:27 | NKE | sell | $83.050 | 0 |
2019-03-26 09:42:03 | NKE | buy | $83.340 | long |
2019-03-26 09:50:27 | NKE | sell | $83.050 | 0 |
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