Shared by
foldelinio_BOWS
Trade from 4% gap scan. Had a little too much float (250M) for my taste at first, so I did not include it in my watchlist. Day was slow and it was holding ground, so I took a stab at it.
Stop: 98.20$
Risk: 20$
R: 0.32
I do not even want to look at it. I'm so angry, I could write a sign about it!!!!
Had pinpointed the exact low of the range by looking at book strengh, a wonderful first scale at 2:1 and I was sure she would at least want to see the HOD again.
But then I saw 78,000 shares trading into the offer at 98.81$ and she didn't go higher, which was a first sign of weakness for me. Then it flushed on size directly to my entrypoint. I pooped my pants a little and puked out, although the .40s were still holding ground.
I knew it was a mistake right away, but I was so messed up, I couldn't reenter right away.
Then I watched this damn thing go up a dollar.
Tried to get a second entry, but wasn't patient enough to wait for the 99$ to trade. Got pulled and quit for the day.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-02 12:56:26 | NXPI | buy | $98.410 | long |
| 2015-03-02 13:00:28 | NXPI | sell | $98.790 | long |
| 2015-03-02 13:24:42 | NXPI | sell | $98.410 | 0 |
| 2015-03-02 14:05:21 | NXPI | buy | $99.200 | long |
| 2015-03-02 14:10:04 | NXPI | sell | $99.075 | 0 |
Comments
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First entry I see where you were going with the mini flag. But you were still pushing close to resistance around the 98.60 level. Draw the line back towards the open where it bounced off support around 10 am EST. That became a sort of resistance. The second entry was an over reach.