Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-Aug 25 2020: Earnings: EPS surprice, 35c compared to -40c expected
Technical Analysis
-SPY pattern: Runner
-Intraday pattern: Consolidation
-Other notes: N/a
Strategy / Confluence / Sizing Guide / Risk
Strategy: Distribution
Confluence: 1min-JL
Strike Zone: 25.2 - 25
Sizing (lots + emergency): 500
Risk (stop / Rs): 25.21 (moved down as ITM)
Review / Lessons Learned
Trade of the day P&L wise but not execution wise. I had moved my stop to 24.87 and the tape was moving fast and I thought it had breached my stop so I hit out but in reality it traded to 2c below my stop price then continued to go down. Would have been an even better trade had I held and simply used a stop-loss order instead of hawking at the tape and reacting manually.
Although I screwed up my stop out, I'm still happy with how long I held and how I managed the trade up until the fuck up...
Lessons Learned: Use hard stops to avoid getting shaken out by a volatile tape/Level 2!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-08-26 12:48:01 | URBN | sell | $25.140 | short |
| 2020-08-26 12:48:01 | URBN | sell | $25.130 | short |
| 2020-08-26 12:48:01 | URBN | sell | $25.120 | short |
| 2020-08-26 12:54:23 | URBN | sell | $25.170 | short |
| 2020-08-26 12:54:23 | URBN | sell | $25.171 | short |
| 2020-08-26 12:54:23 | URBN | sell | $25.170 | short |
| 2020-08-26 13:56:21 | URBN | buy | $24.835 | 0 |
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