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Shared by
thearmotrader

 

WDC

Apr 27, 2012 10:29


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Tried SS up against 39...stop too tight on first two entries, so on final entry decided to give it a wider stop (11c,16c) since it was holding below on the 5min timeframe...

Scalped 1st half a little early and I should have held onto the last piece for a little longer, couldve moved stop down to like 38.26 on last piece so I couldve caught the last ~50cent drop.

Overall: B+. Entry was great, esp after I realized my bad stop management. Exits were OK. Need to learn to ride the last pieces better.


Execution detail:

Date/time Symbol Side Price Position
2012-04-27 10:29:31 WDC sell $39.000 short
2012-04-27 10:30:34 WDC buy $39.040 0
2012-04-27 10:32:12 WDC sell $38.990 short
2012-04-27 10:33:19 WDC buy $39.060 0
2012-04-27 10:45:07 WDC sell $39.000 short
2012-04-27 10:46:20 WDC sell $39.000 short
2012-04-27 11:50:33 WDC buy $38.380 short
2012-04-27 12:11:10 WDC buy $38.160 short
2012-04-27 12:17:43 WDC buy $38.060 0


Comments

2012-04-30 12:52:22
 

Nice job sticking with this one after it beat you over the head a couple of times...the idea and the price level were clearly right!

One thing I do sometimes is, say, after 10:50 when I'm in the trade and it's holding under 39-ish, is try to scalp my way into a little breathing room. So for example, maybe cover one tier at 38.85 and short it again back up at 39. Could have done that maybe twice on this trade between 10:50 and 11:30. Tougher to do in this case, though, after you widened your stop - R/R would probably be questionable scalping for 0.15 to build that cushion.

Nice work!

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