Shared by
Driver42_BOWS
Price had risen through 20ma which is sloping up but only just.Price also moved off 9ema.
Also through 30min 200ma.
Daily 20ma is at 60.58 which has been tested earlier.
After waiting for ages for it to pick its feet up the price dropped back through the 20ma and 9ema and broke its support trendline.
At this point I reversed my position and shorted it. This also coinncided with a bounc off the 30min 200ma
Most of the higher volume candles were red, the price had been trending down for the last forty minutes and with the market as it is today I don't have any conviction in the price recovering again.
Price moved down nicely after I reversed my position.
Covered some at 60.26 and the rest I held on to until the end of the market just in case of a last minute flush which didn't quite materialise, but I got a few more dollars from it
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-25 13:51:45 | FSLR | buy | $60.750 | long |
| 2015-03-25 14:29:37 | FSLR | sell | $60.480 | short |
| 2015-03-25 15:42:54 | FSLR | buy | $60.260 | short |
| 2015-03-25 15:59:00 | FSLR | buy | $60.100 | 0 |
Comments
Driver42_BOWS
Yes. I am only using a Max of $8000 per trade in demo. And rounding down to the hundred so in this trade I bought 200. When I reversed it was simply a matter of selling 400. I think TOS won't allow that. I may b wrong.
Some platforms make you sell as one trade then and then short for the reverse. IB just let's you sell more if you want to reverse
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Andy, I was wondering about this type of move when you go long and it goes against you and you want to reverse and go short. I don't see your position size, but to profit in this type of trade, did you have to short sale bigger position than that of your initial buy at $60.75? In other words, did you have to sell more shares at $60.48 thant you first bought at $60.75? Thanks.