Shared by
Mari_BOWS
Four trades, all losses. I was trying to dip buy anticipating a day-long consolidation breakout, but it didn't happen. The first trade hit my stop loss at $12.73. For the next three trades my stop loss was at $12.68-$12.70, but I exited the trades for a small loss as soon as it didn't go to my favor. 9EMA on the 5-minute and 15-minute charts was in the middle of the price action, not under it. On the 30-minute chart the price was holding above the 9EMA.
I should've picked my stop based on where the 9EMA was on the 30-minute chart and I shouldn't have expected for the trade to go my way immediately. My stops were too tight.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-11-24 12:32:00 | TSEM | buy | $12.810 | long |
| 2014-11-24 12:46:00 | TSEM | sell | $12.720 | 0 |
| 2014-11-24 12:59:00 | TSEM | buy | $12.800 | long |
| 2014-11-24 13:21:00 | TSEM | sell | $12.760 | 0 |
| 2014-11-24 13:36:00 | TSEM | buy | $12.790 | long |
| 2014-11-24 13:44:00 | TSEM | sell | $12.750 | 0 |
| 2014-11-24 14:16:00 | TSEM | buy | $12.790 | long |
| 2014-11-24 14:44:00 | TSEM | sell | $12.770 | 0 |
Comments
Mari_BOWS
Hmm... yes. Definitely not a time to take a day-long consolidation play. I see it now.
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Not seeing a daily setup to long this stock.
The first and second day a stock is coming out of range on the daily chart is always the best time to play a stock...http://screencast.com/t/sulLNy6Va