Shared by
MarcoG
FDC first traded below VWAP for a fade but unfortunately didn't reach target but today I have decided to break even cause I guess there is no point to let it go against me. I know I would miss opportunities but I also know I am able to spot better entries where the price will basically never retest the entry point and this stock has a ATR of 0.89, a low range stock..
After a while when FDC reached the 100 MA I have decided to go long but did the mistake to set stop price once first target was achieved above entry price. I was seeing too many sellers on level 2 and this changed my plan. This mistake cost me ruining the trade. So next time I will set a break even stop as I did for the short position. The first take when short it's a mistake setting up the profit order.
First trade stop at 0.20$ per share (I guess too wide for such ATR stock)
Second trade stop at 20.82$ with 0.7$ per share
Average of -1.35$ risk
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-01-16 11:42:41 | FDC | buy | $20.890 | long |
| 2019-01-16 11:49:55 | FDC | sell | $20.970 | long |
| 2019-01-16 11:51:02 | FDC | sell | $20.980 | long |
| 2019-01-16 11:53:18 | FDC | sell | $21.040 | long |
| 2019-01-16 11:55:50 | FDC | sell | $20.940 | 0 |
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