Play: ORB
Gapped up, flagged, held 7.6, got in on the break when it accelerated. Sold at round # as it could be resistance. Didn't hold long enough 2nd shares. Once I increase size, I will scale out in thirds.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-09-23 09:45:29 | JRJC | buy | $7.760 | long |
2014-09-23 09:45:48 | JRJC | sell | $7.990 | long |
2014-09-23 09:47:26 | JRJC | sell | $8.240 | 0 |
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Awesome trade! It's easy to say you sold too early on the 2nd exit, but what if it had rolled over (which things are prone to do lately)? I would have a hard time turning away from a .50 gain when things looked to be pulling back. If it makes you feel better, you could always split your second half again. It would be three exits, but not even thirds at that point. Sometimes I do that, with the amount I exit sized in proportion to how confident I am on possibility of a continuation. For instance, if I bought 100 of this, maybe sell 50 first, then 30, then trail a stop up on the last 20.