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Mari_BOWS
Profit $37.44. I used only half of my position, because I doubted the setup. If I had used normal position size, I would've made $75. Now I see that it was a good setup, but I didn't see it when I was trading it. I entered the trade, because the price was nicely consolidating above 9EMA and all the other MA-s. Also $5.00 was supporting. Now I can also see that there was a double bottom pattern it was breaking out of.
Stop was $0.03 from entry. Great entry.
2:1 RR was 5.09
I didn't start scaling out before my target was hit and that's great. 5.17 was already RR 4.6:1.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-01-09 13:07:00 | AGEN | buy | $5.030 | long |
| 2015-01-09 13:09:00 | AGEN | sell | $5.100 | long |
| 2015-01-09 13:10:00 | AGEN | sell | $5.110 | long |
| 2015-01-09 13:17:00 | AGEN | sell | $5.170 | 0 |
Comments
Saint11_BOWS
great trade! I bought in at 5.03 as well!
JDN6832_BOWS
Very good entry. Although once it 5.10 there was a high probability it was atleast going into the 5.20s. http://prntscr.com/5qycce
Let things ride.
My first sell was 5.22 on this
Dont be afraid to scale out piece by piece. I had 800 shares and kept scaling 100 at a time.
Mari_BOWS
tombro_BOWS you are so correct! Thanks for the advice! I checked how it would work on a lot of breakouts and breakdowns and it seems like it works almost always! I'm excited to try it this week! Where did you learn this?
tombro
It was just something I noticed.
Also, sometimes it will dip below the previous bar, but won't be able to close under it, and will continue upward.(its better if after it dips if it closes in the upper part of its bar)
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Mari!!! Your progress is very inspiring! I may have told you this before so if I have don't hate me. One thing that helps me hold onto something that is going in my favor, is if it keeps making higher or equal lows on the five minute, I'll try to squelch that impulse I have to take my profits and see what the trade can do. In this case you could've held your last piece til 2:10-ish and exited around 5:40. This higher/equal low thing has helped be a few times. (so basically you're using the previous bar as a stop kinda)
Hope this helps. Keep up the good work!!!!