Shared by
brian_g_BOWS
Was watching this stock premarket. After the open I went short 400 shares when the second 5 min candle was broken to the down side. Placed a stop at the top of the previous 5 min candle, $38.05. As the stock fell I moved the stop to break even. Covered 200 at 36.50 and placed a stop for the remaining shares at 37.00, which is where I was stopped out of the last 200 shares.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-16 09:40:15 | WLL | sell | $37.500 | short |
| 2015-03-16 10:10:00 | WLL | buy | $36.500 | short |
| 2015-03-16 10:40:00 | WLL | buy | $37.000 | 0 |
Comments
brian_g_BOWS
Yes my initial risk was 220, yes that's realistic when live on the correct setup but looking back on this one I should have had less shares or a tighter stop. I did immediately moved the stop to above the 3rd 5 min candle after it was formed. With the movement of the first two 5 min candles I knew it could move a decent amount. I should have looked at the 1 to 2 min time frame to place the stop.
Thanks for the feedback
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What's to not like about this trade? Only question is... you were risking 220 bucks. Is that realistic when you are live? If so, awesome. But if you will join Clique Fund, that is way too much risk.