First trade was pullback to support after initial pop. Second trade was a long intraday consolidation, was above MA but below VWAP. Target was VWAP. Ended up a little uncomfortable with the position after not much time, so exited very small gain. Setup ended up working great, it bounced to VWAP and I missed the move.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-09-16 10:09:11 | RWLK | buy | $41.180 | long |
2014-09-16 10:54:33 | RWLK | sell | $42.400 | long |
2014-09-16 11:10:09 | RWLK | sell | $41.300 | 0 |
Yes absolutely. This one nailed me for a big loss on Friday trying to play it too tight and too big. With this one I was watching the 1 minute chart in addition to the 5 minute to get a better idea for short time frame support and resistance. With 100 shares I can afford to let it move $1 if needed.
One other thing I learned trading some of these crazy low floater lately is to be aware of the slippage potential. My stop on this was actually 41.50 for the last half, you can see that it slipped .20. I put it in a little high on purpose because RWLK has caused me losses putting the stop at buy price.
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Do you decrease your share size due to the volatility? I struggle big time and rather stay away from the stocks that move one dollar at a time.