Shared by
Jerry_C_BOWS
great entry. good trade. My second scale out was too close to the first. My final 50 cleared at the stop which I trailed at the 9EMA.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-06-10 13:54:08 | DRL | buy | $4.710 | long |
| 2014-06-10 13:59:52 | DRL | sell | $4.820 | long |
| 2014-06-10 14:13:24 | DRL | sell | $4.860 | long |
| 2014-06-10 14:38:30 | DRL | sell | $4.990 | long |
| 2014-06-10 14:42:14 | DRL | sell | $4.880 | 0 |
Comments
ThirdStringHero_BOWS
Nice, great entry and nice scale out near the top.
Regarding your 2nd scale out, I'm not sure what Kunal would say, but I don't usually look at (or really care) how close my orders are. The real question is why did you scale out at that point - what was your reason for (partially) exiting the trade?
If you had a valid reason then you did the right thing. (For example, I wouldn't have been surprised if there was at least a small pullback from 4.9, since that was the top of the candle on the previous high). If you just did it because you were nervous, then you might want to think about it a little more.
I try to give myself at least a 30 second "re-think" period before I enter or exit a trade. Helps me when I want to trade just because of jittery nerves. When I do this (which definitely isn't all the time), I often end up not placing the order (enter or exit) because I see something I missed the first time out, or realize I'm just trading my emotions instead of the technicals.
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
This job with this. Agreed on your 2nd scale out but besides that very well done