PAPER TRADE (LOSS)

• Setup: -------------------------------------------------------------------- Bounce Play
• Entry: --------------------------------------------------------------------- $7.33
• Shares: ------------------------------------------------------------------- 1000
• Stop: ---------------------------------------------------------------------- $7.23
• T1: ------------------------------------------------------------------------- $7.51
• T2: ------------------------------------------------------------------------- $7.69
• Reward:Risk Ratio (T1): -------------------------------------------- 1.8:1
• Exit: ----------------------------------------------------------------------- $7.23

• Profit/(Loss) With Commission: -------------------------------- ($113.00)

• Details:
  Bounce play, 1000 shares. This was not a good trade at all. The stock released earnings and was being beaten down but it had gapped up so I thought it might just be profit taking from people who had bought prior to the gap. I bought on support on the daily at $7.33 for a bounce back to the high of day at $7.69, selling half on the way up. Looking at it now, there was really no setup here. The daily was messy, support was weak at my bounce point, and there was no indication intraday that it should have turned around. Overall just a plain old bad trade. I have made a mental note to not play bounces until I get better, since so far they never work for me.