Shared by
pstark89
Whats the Setup: Bear Flag into 9 ema and broke the upward trend line
Where are EMA's: Over and sloping down
EMA's-Direction & details: Sloping down
Time Frame Alignment: Yes
Volume: Heavy
Market action: Trading Down
Stop: $117.60
Target: $113.75
R/R: 3:1
Reasons for exits: I had no reason to exit other than fear
Notes:
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-19 13:28:32 | ESPR | sell | $116.710 | short |
| 2015-03-19 13:33:37 | ESPR | buy | $116.470 | short |
| 2015-03-19 13:37:40 | ESPR | buy | $115.800 | short |
| 2015-03-19 13:41:59 | ESPR | buy | $115.750 | 0 |
Comments
phamster74
Usually the Vwap acts as a magnet so you can use that as your target to get out....
pstark89
Good point on the position size. I've been in a major slump the past few weeks and honestly I just wanted to see green and was afraid of seeing more red. Not a good philosophy and I have to change that but thanks for your input.
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You had a lot of winners today that you exited to early due to a fear. Maybe check your position sizes? Thinking about it, if you'd have had 1/3 as many shares in some of these trades (but not sold too early), you'd have made about twice as much with less stress.. less risk.