Shared by
handycandi_BOWS
I did this all wrong...
Shorted when it broke a four-candle flag (second of the day), setting my stop just above the line of the flag it had passed. I didn't see the break right away, so I think I chased it a bit, and since stochastics were overbought and all the MAs were pointing down, I held it longer than I should have instead of honoring my stop, so I ended up with a crappy profit to loss ratio. I noticed it seemed to be consolidating, and it bounced off the 9SMA, so I moved my stop to just above the 9SMA (mistake again?), and waited it out. I did drop and I ended up with a profit, selling half at a spike, and the other half at another spike.
I SHOULD have honored my stop, then kept watching and gotten back in if another pattern formed. Right? Was this a good stock to be shorting at that point? Also, it was following the 9SMA down - should I not have gotten out so fast?
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-08-18 10:16:15 | MNST | sell | $90.750 | short |
| 2014-08-18 10:28:13 | MNST | buy | $90.620 | short |
| 2014-08-18 10:29:10 | MNST | buy | $90.400 | 0 |
Comments
kunal00
looks like a nice easy trender..and trader didnt break any levels abouve that u would need to cover it on..
and u cant take 10 cent gains on 90 dollar stocks anways.there is no money in that..
and in real life if u take 10 cents gains most likely its a 30 cent loss...
whatever ur gains are in sim take about 10% of that and thats what u end up with in real life
here is teh chart http://screencast.com/t/LaIyQuk1j2v
great idea to do this ur thinking was spot on
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Stop had to be lose on this one. I would have taken a short entry at $91.10/$91 with a 91.50 stop which is where the vwap was at. Once it did break 91 it was have trouble staying above it. As it started to bear flag you could have move your stop to 91.30ish as the vwap is starting to come down.