This trade worked out great but I shouldn't be taking trades like these if I was not on paper. I had been stalking this since 11am and noticed that it respected the 9ma on the 5min, it would kiss it and then bounce up. There were many flags I could have taken but I picked this one because it just kept going up (yes, that is really dumb to chase). Well, with such a small stop I got in and the price went up like crazy. I sold into first spike and then sold the rest on the next candle because it didn't make a new high and I noticed on L2 that the buying was slowing down a bit.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-09-10 13:46:40 | ALNY | buy | $69.860 | long |
2014-09-10 13:48:39 | ALNY | sell | $70.453 | long |
2014-09-10 13:50:05 | ALNY | sell | $70.539 | 0 |
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