Profit/(Loss) With Commission: -------------------------------- $47.00
Details:
Rubberband snapback play, 100 shares. Although profitable, this was not a good trade. I bought only 100 shares since the stock was very volatile and I knew the reward to risk ratio wasn't good because of that. I sold it quickly since the stock was so volatile and decided it was too extreme for my taste. This would have been better as a scalp play, but the major issue was that it wasn't a strong setup. After analyzing the trade I realized that the price was repeatedly bouncing off the 20sma, and I bought almost $1 above that so it was almost guaranteed to retest, which it did. A strong setup would have been to wait for it to test the 20sma a few times then buy on the 20sma as that would have given me a low price entry, solid risk to reward ratio and a little more peace of mind. This also could have been a short play after 11am on the crack of the $48.00 support, however it still would not have been appealing in terms of reward to risk, since the only visible resistance at that point was $48.50 which would have given me a 1:1 r/r ratio.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-05-04 09:52:17 | HLF | buy | $47.800 | long |
2012-05-04 10:03:51 | HLF | sell | $48.400 | 0 |
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