PAPER TRADE (WIN)

• Setup: -------------------------------------------------------------------- Intraday Flag Break
• Entry: --------------------------------------------------------------------- $11.28
• Shares: ------------------------------------------------------------------- 700
• Stop: ---------------------------------------------------------------------- $11.12
• T1: ------------------------------------------------------------------------- $11.50
• T2: ------------------------------------------------------------------------- $11.66
• Reward:Risk Ratio (T1): -------------------------------------------- 1.375:1
• Exit: ----------------------------------------------------------------------- $11.42/11.34

• Profit/(Loss) With Commission: -------------------------------- $50.50

• Details:
  Earnings play, intraday flag break, 1000 shares. MDR released earnings after the close on 5/10/12 and it gapped up significantly so this was simply trying to catch a piece of the earnings momentum. On the 2 min chart I saw a small flag forming and bought the break of it, which was also the top of a horseshoe pattern on the daily. the first half of the trade worked well. I set my stop at the base of the flag but it was mental, so I put a hard stop at $11.35 after the stock broke through, since the r/r on my mental stop wasn't good. After the stock broke through I sold off half at $11.42 and then raised my stop. I might have been a bit tight on the stop for the second half and should have let it come back to retest my buy spot since later in the day it did hit my target ($11.60ish). See charts:

  http://i1155.photobucket.com/albums/p560/ckz8780/020ba92c.png