MGM Trade on Mar 17, 2015 10:56 from foldelinio_BOWS: Tradervue User Stock Trades.

373.56M float

Up on a report from Deutsche.

Stop: 1st trade 21.60$, for all other trades 0.01$ below entry price of 1st position.
R: st trade -1/ other trades: 10

Well, this trade was rather a test. The stock was a thick and slow moving monster.

I started from the short side first, since 21.50$ was a strong resistance on the daily, stock went through on heavy volume, but pulled back below pretty quickly. I was working myself into a position based on levels on the tape, sizing in and out so my average price would be above 21.50$. 21.45$ was a key level for a long time and stops were below 21.30$

It failed to get there and made higher lows, so I got out.

Second trade was from the long side. I worked myself into a position like the last time but tried to build up size for the HOD retest @ 21.85$. My risk level was 21.70$

Summary: My plan was scalping off of a predefined risk level starting with small size, selling partials into pushes and adding when it came back to my entry price. The goal was scaling into a position within a consolidation area and pushing my average price closer and closer to my stop level, while waiting for the real move.
It worked out nicely, besides the fact, that I was wrong on the "real move" - part. Nevertheless, even when I got stopped out, I made a little profit.

If I will do it on a live account, depends on the commission structure. I was maker all the time and if rebates get forwarded, I will use this tactic.