Shared by
Driver42_BOWS
Long 2.55 stop 2.42
Sold just over half at 2.64 even though I could see what I thought was heavy buying there while watching the time and sales. I could have held on to them all for bigger gains but decided to lock some profit in.
Stop moved to 2.56 on rest. That way the extra cent will over my breakeven will cover commissions if nothing else.
Selling off a bit more at 2.70. Stop moved to 2.60 on last portion.
Exited last at 2.63 after big red candle.
It only made a $3 difference as there were only 100 shares left (and demo trading too) but I thought that it would be better to keep some more profit instead of letting it all disappear, but once again I shot myself in the foot as the price came to within just one cent of my stop before moving up again.
If only I can control the need to keep moving my stop up and learn to let the last portion ride I may make more profit.
Maybe not this time, but over many trades there will probably be one that shoots for the stars
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-13 09:47:00 | FXCM | buy | $2.550 | long |
| 2015-03-13 10:01:00 | FXCM | sell | $2.640 | long |
| 2015-03-13 10:10:38 | FXCM | sell | $2.700 | long |
| 2015-03-13 10:31:49 | FXCM | sell | $2.630 | 0 |
Comments
Driver42_BOWS
The high of the day was 2.52 prior to this move. I would have liked to get in earlier of course, but I was watching other charts at the same time and did not pull the trigger on this as fast as I would have liked.
If I had waited for a red candle I would probably have told myself that it was turning !
It's all down to narrowing my watch list down. I just can't seem to limit the number of stocks to focus on. I started out with twelve split between two monitors so often I don't see entry points in a timely manner especially if I am in another trade and watching that one.
t_jordan22
i see.. I am guilty of this too.. I am trying to simplify my style and just trade one or two momentum stocks per day moving in and out of them.. otherwise I miss things and tend to chase. But again nice trade and thank you for posting and helping me learn
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do you think your entry at $2.55 was risky..? maybe should have waited a bit for the small pullback at the next red candle slightly above..?? I have a problem with this also.