Shares traded: 1000
Closed Gross P&L: $105.05
The KO is a intraday support play. I read the tape for a while and it looked like there was support at the 48.12. I held and watch for longer as it bounced up to the .22 or so and cam back to the mid-teens. I wanted to take it at .12 but I hit the offer at .16 and filled at.18. This was bit of bad entry. I would have the chance to get the .12 and great risk on the lot. KO pulled back to 48.06 and very close to my stop before it rest support in the teens found some resistance at the .18 level. ( that is what I get for taking the offer)
It broke the resistance level and quickly moved past the MA and then in to the VWAP. It hit my target at .40 and moved just beyond. I needed to close out a ½ lot instead of closing out and fought for price on a Trade2hold.
A limit in at .15 or better at the .12 I had planned would have set this trade to about 3 to 1. However, taking the offer left me .18 risk for .22 target. This ratio has to improve or commission are going to eat profits alive for these first few months.
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