Shared by
EliBrown
I had to get my one impulsive trade in for the day. Stock had a beaten down daily making it a lower probability short. It was on its third down day and nearing price support. I took the gamble and shorted at 500 shares at 13.66 with a stop at 13.76. Almost immediately after by entry the stock popped up above the VWAP and stopped me out. In hindsight if I was to re-do this trade I would have kept a looser stop with a much smaller position considering the daily chart. I also could have re-entered a short as it flagged again right after and then flushed down to 13.28. Another option also could have been to scale into this position instead of taking such a large position right away. Scaling into positions is still rather new to me, but I will be working on this more this week.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-02 12:37:27 | OAS | sell | $13.660 | short |
| 2015-03-02 12:46:04 | OAS | buy | $13.780 | 0 |
Comments
EliBrown
Definitely I was a bit to early, I should have looked to re-enter afterwards but I stopped watching it.
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Hey! I cant really see the time of your trades... but this would be an excellent EMA(9) and EMA(20) sandwich with a stop loss above. I do see you're sizing up your trades!