Shared by
pstark89
My initial purchase was too high. Looked like a flag but I was chasing the top. I averaged down at two levels where I saw support. Didn't get the lift I was looking for so sold out of half the position. I sold out of the rest when I still didn't see the strength.
I reentered the position on the breakout of the flag. I sold partial and was looking for the next level. It started to settle on light volume but then never stopped. Sold out balance for a loss.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-08-25 13:46:50 | ACHN | buy | $11.030 | long |
| 2014-08-25 13:51:31 | ACHN | buy | $10.960 | long |
| 2014-08-25 13:59:26 | ACHN | buy | $10.860 | long |
| 2014-08-25 14:10:27 | ACHN | sell | $10.840 | long |
| 2014-08-25 14:27:13 | ACHN | sell | $10.850 | 0 |
| 2014-08-25 14:35:49 | ACHN | buy | $10.890 | long |
| 2014-08-25 14:39:29 | ACHN | sell | $11.020 | long |
| 2014-08-25 15:04:59 | ACHN | sell | $10.720 | 0 |
Comments
jschrager23_BOWS
As I am looking at the buys I can almost feel the rush and anxiety in the trading. You should work on the emotional side as well. Remember this chart was also already a tad overextended and once that red candle formed after your bought it was a double top intraday. Not a good sign for going long.
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Align on multiple time frames. Look at the 15min chart and the time you entered the trade. See how It is a gap between the price and the ema's. Have to let the ema's catch up then determine an entry.