Flag
Entered within the consolidation with my stop right under it
Stop 146.29 (filled 146.18) First Target 147.84 (hit after I was stopped out)
stop under the 1:55 low & the then current (12-1:40pm) trendline on lower part of
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-01-20 14:04:54 | UTHR | buy | $146.790 | long |
2015-01-20 14:18:26 | UTHR | sell | $146.179 | 0 |
Emilie.... Thanks for commenting.
Yeah my stop may have Been to tight. On the other hand, the stock had been coiling tighter for over an hour, and I was stopped out on a move down greater than any move in over an hour, that broke the triangle that had been forming.
It wasn't the stock breaking thru the ema's that got me out...it was the break of the lower trendline as discribed above... My EMA comment was actually something I looked at in retrospect that maybe would have kept me in.
I agree with Emilie. When you are trading stocks over 100 bucks you have to think of the moves more in percentage terms vs. price and stick to reasons to sell. Take a smaller position to give yourself more room if necessary.
I also use trendline. I find price likes to overshoot trendline a little so I usually want to wait and see if there is follow through before taking action.
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IMO your stop was too tight. Stock was still bullish as it was flagging and kept making higher lows. Don't assume that price breaking through the EMAs means you have to exit automatically. That also means you don't have to always put a tight stop under the EMAs, especially in a choppy market or with thinly traded stocks like this one.