Shared by
jschrager23_BOWS
got in for the quick spike. sold some near the top and the rest as it was starting to fade
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-08-14 09:31:00 | NDLS | buy | $20.560 | long |
| 2014-08-14 09:32:00 | NDLS | sell | $20.930 | long |
| 2014-08-14 09:33:00 | NDLS | sell | $20.660 | 0 |
Comments
jschrager23_BOWS
just probabilities...I see it all the time....a gap down stock, green candle to start off once second candle trades above the first its a long....90% of the time...either for a quick move or sometimes for a bigger run.
mick9800_BOWS
interesting theory on the first green candle. where do you put your stop? if it is the bottom of the first green candle you are looking at a .56 point risk which seems quite high considering your actual return on the trade which would have been less than 1r presuming this was the stop. interested to know your thoughts on this.
yeah in this case either it would be below the lod or i may even have it below the entry candle itself since its a type of play I am quite confident in.
Now Mick, it depends on the first green candle as well. If it is a green candle with huge wicks I will not take the trade on the second green candle, because even if the second candle moves over the High of the first , meaning above the wicks, it would be too far of a r/r so it would not be worth it
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How can you tell it's gonna pop, versus gonna flush, that early without any patterns to look at? So risky imo, but somehow you have mastered it! Teach us o grasshopper!