Shared by
grove_under
I wrote about this SODA trade as well as the "infamous" TNA scalp day trade in my blog post:
To offset the example of the TNA trade I shared earlier with 206 trades, here's an example of something more along my usual style, only 2 trades in SODA on 8/16.
However, I deliberately tried something materially different -- the exit did not have a profit targets (I usually exit with defined targets).
I admit, the outcome of this trade was 90+% luck. As I continue to discover what trading style works best for me, I happened to pick the right stock to test this "let it ride" strategy.
I also understand that these blow out wins do not create the best learning experiences, but in this case, I won't complain!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2011-08-16 10:46:32 | SODA | sell | $46.140 | short |
| 2011-08-16 14:10:43 | SODA | buy | $40.600 | 0 |
| 2011-08-16 14:13:28 | SODA | sell | $40.960 | short |
| 2011-08-16 14:56:14 | SODA | buy | $39.180 | 0 |
Comments
grove_under
thearmotrader,
Thanks! I was very fortunate that the stars aligned, and SODA provided a very nice "wave" for me to ride.
And thanks again for the heads up tweet about Tradervue last month -- this website has been amazing for my learning curve!
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VERY very nice hold on the first trade! And nice reentry after you covered to catch another ~2 points...Very nice trade!