LAKE Trade on Oct 9, 2014 10:42 from JensW: Tradervue User Stock Trades.

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Shared by
JensW

 

Goal for day: Very tight risk managment, keep losses to max. 50-60 per trade

Setup: --------------------------Shorting daily runner
Entry: --------------------------15.26
Shares: -------------------------200
Stop: ---------------------------15.50
T1: -----------------------------14
T2: -----------------------------
Reward:Risk Ratio (T1): ---------5
Exit: ---------------------------15.50
Profit/(Loss) Without Commission:--- -47.55

Comments:

  • it is a shame, that I cannot follow the rules
  • shorting daily runners on the first day and in the morning of the first day, is a high risk trade
  • again, I misinterpreted a bull flag as a potential entry for a short
  • got squeezed

  • i tried later: LAKE with 300 shares and added to loosers 5 times on the way up

  • it was a trial to see whether this could work, building a bigger short position

  • i would have never done this with real money

  • that trade was down more than 3'000 at one point, as I had built a position of 1'500 shares
    with an average price of ca. 16.50

  • it was up also 600 temporarily

  • not posting this, as it was really a trial, which I would never do in reality with that type of size

  • in general, i do need to stay from these crazy low float daily runners in the morning of the first day or play them long

  • (issues with prodigio all day, numbers might be a little off)

image


Execution detail:

Date/time Symbol Side Price Position
2014-10-09 10:42:33 LAKE sell $15.220 short
2014-10-09 10:42:33 LAKE sell $15.304 short
2014-10-09 10:47:23 LAKE buy $15.500 short
2014-10-09 10:47:23 LAKE buy $15.500 0


Comments

Gravatar saico
2014-10-12 07:57:12
 

Hi Jens, may I ask what broker do you use?

2014-10-12 08:27:50
 

hi there. I am still on a simulator and use prodigio.
i have not decided what to do about live trading and which broker to use.
i think centerpoint is the best for my style of trading - mostly shorts - but they require 50k. i also have a suretrader account, which is dorment / emty at the moment. if you have questions, feel free to e-mail me reisem1508 at yahoo.de

Gravatar saico
2014-10-12 08:54:31
 

Ah ok just asking since I tried hardly to find available shares of LAKE to sell short.

2014-10-12 09:04:47
 

check out centerpoint securities. they are the best broker for shorts.
they seem to have shares, for these crazy, silly priced runners, that will eventually fall sharply.

Gravatar saico
2014-10-12 15:51:13
 

They seem to be pretty good, but also very expensive in commissions?

2014-10-12 15:55:02
 

you find this very expensive? would be interested in your view?
depends on how many shares one trades, etc., i guess.

Gravatar saico
2014-10-12 16:12:44
 

Hi Jens, when clearing thru Wedbush they have an additional 4$ per trade site as I saw in commission, which is very expensive in my opinion. The other clearer (ETC) doesn't has that additional fee, but Im not sure if ETC still has that good list of available stocks for shorting? Maybe Im wrong.

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