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amd2709BOWS
Max Order Qty 400
Symbol cy
Setup orb
Price Tnd, Agmt inc 3
Support $14.00
Resistance $14.30
Volume low
Stochastics 84inc
News
Concerns, Comments chase, overextended on D. too tied to position, mkt dips are getting bought, pulled out stop loss. Bought @ hod. Nice job, idiot. Wasting time, energy and money watching this trade when I could be in other positions. Riding out a bad position
Order Price $14.18
Stop Loss $14.04
Target Price 14.48
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-12-16 09:38:17 | CY | buy | $14.180 | long |
| 2014-12-16 09:38:18 | CY | buy | $14.180 | long |
| 2014-12-16 09:38:19 | CY | buy | $14.180 | long |
| 2014-12-16 09:38:20 | CY | buy | $14.180 | long |
| 2014-12-16 13:09:09 | CY | sell | $14.050 | long |
| 2014-12-16 13:09:09 | CY | sell | $14.040 | 0 |
Comments
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Drew, a couple of things about this trade. You have it labeled as an ORB, but you entered at 9:38. Pg 115 of the book " the range must consist of at least 2 five minute candles.." so..No on the ORB idea. There are other details too re: ORBs that pertain to this too.
That it's extended on the daily is something to know so you are hyper vigilant at cutting if it it reverses, but it was extended days ago and kept going up.
Maybe more importantly, The stock had traveled around 3.5 percent from the open 8 minutes earlier, before you entered and was far from the ema's (another ORB detail in the book).
Use the book and scrutinize your trades to make sure they are what you think they are. I didn't think I would use the book at all, and now I look at it every day (I even knew the page # for ORBS)
When I review my trades after the close, If I can't find a setup In the book that it matches, I label it "No Setup". I am ignoring every other kind of entry I have ever learned and am just focusing on BOWS trades.
I struggle with entries also, and have found entering my stop and 1st target IMMEDIATELY after entering keeps me from the waffling I do with mental stops, and saves my mental capital.
Good luck!