PAPER TRADE (LOSS)

• Setup: -------------------------------------------------------------------- Intraday Flag Break/Earnings Play
• Entry: --------------------------------------------------------------------- $18.84
• Shares: ------------------------------------------------------------------- 300
• Stop: ---------------------------------------------------------------------- $18.70
• T1: ------------------------------------------------------------------------- $19.15
• T2: ------------------------------------------------------------------------- $19.49
• Reward:Risk Ratio (T1): -------------------------------------------- 2.21:1
• Exit: ----------------------------------------------------------------------- $18.70

• Profit/(Loss) With Commission: -------------------------------- ($55.00)

• Details:
  Earnings play/intraday flag break, 300 shares. NWL had earnings and had a nice pop in the morning. It then consolidated for about 15 minutes before it appeared it was going to break out again at $18.84 which was also a range break on the daily chart. The volume was a little weak on the initial push out of the $18.84 range so I jumped the gun a little on my buy. The setup wasn't bad, execution needed work though. In the future I need to make sure the breakout has volume backing it so that I don't end up buying into a weak break that will just fade like this one did. Overall not a terrible trade as the risk to reward ratio was good an the trade was managed well, but the mistake was not waiting for proper volume to confirm a true breakout.