Shared by
d_zimmy_BOWS
Bad trade. I saws the bounce off 14.80 and missed it so I bought way extended at 16.30 near resistance from pre-market hoping it would break through it. Then I tried again thinking a squeeze above 16.00. Need to focus on better setups.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-12-22 09:58:10 | ACHN | buy | $16.300 | long |
| 2014-12-22 10:11:03 | ACHN | sell | $15.984 | 0 |
| 2014-12-22 10:41:56 | ACHN | buy | $16.085 | long |
| 2014-12-22 10:41:56 | ACHN | buy | $16.080 | long |
| 2014-12-22 10:49:18 | ACHN | sell | $15.850 | long |
| 2014-12-22 10:49:19 | ACHN | sell | $15.854 | long |
| 2014-12-22 10:49:19 | ACHN | sell | $15.856 | long |
| 2014-12-22 10:49:19 | ACHN | sell | $15.850 | 0 |
Comments
Nape_BOWS
2014-12-25 07:17:11
You had a .30c gain on your first entry. Why not take some profit and stop out flat with the rest of the shares?
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I don't think the first trade was bad, just your expectaions. for one thing (and i know this is a personal thing) your stop seems loose. Initially I would of had it maybe 1 penny under the red candle previous to your entry, and then moved it up to at least the bottom of your entry bar when it neared the high of day. I know that's not exactly how we were taught-but hey, ya gotta find out what works for YOU anyway.
THEN when it tested the high at 9:59 then backed off, tested it again-but lower, and backed off at 10:03....by 10:07, I would start doubting the ability for it to go higher-given that it had come so far already (around 13% from the 14.60 area)
You know-another thing that has helped me with my discipline in trades is taking partial exits. With this trade, it would've been ok to take a partial at the High of day. If I did my math right that is a 1.5% move which is ok. It would probably take you 2 years to make that in a bank. After your partial, and your stop moved up to break even (or better) your psyche will have a smoother path on the learning it has to do too.
hope this helps. cheers!