Shared by
MarcoG
Set-up : 5min ORB
Symbol Name: STMP
Side : Short
Size : 10
Entry : 39.25
Takes : 37.25 / 36.25
Exit : 40.25
P/R : 2.15:1
Comments: STMP had earnings today with a yearly downgrade. I have traded the 3 min ORB even though the stock was quiet extended. I haven't realize that, and actually is the reason why I haven't trade ROKU. Super overextended!!!
I have this time extended my first take to 2:1 instead of 1.5:1 and then 2.5:1 taking out half position instead of 1/3
The reason why I have closed the position once back at target 2 is due to a volume bottom once the price touched the 36.50. In addition many orders on the bid were coming in. I was right even if the stock never touched my entry price but just few cents below. I think is stupid to let the price go all the way back to your opening once we have got confirmations of a reversal and achieved a 2:1 pnl. One mistake I need to remark is on the share size. Again a mistake. I HAVE TO RISK 15$ not 10$
Let's go I am gonna achieve this!!!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-05-09 09:35:32 | STMP | sell | $39.250 | short |
| 2019-05-09 09:50:58 | STMP | buy | $37.250 | short |
| 2019-05-09 11:07:05 | STMP | buy | $36.750 | short |
| 2019-05-09 11:08:02 | STMP | buy | $37.270 | 0 |
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