Shared by
tee
Day Chart: breaking flag on daily, cracked new high
Buy: stock had a falling resistance line that it couldn't break but it recently printed a higher low. I used that as my stop to see if it could finally breakout at end of day. honestly, I was looking to wipe out losses with one good trade. I just learned that I needed hard stops from my recent trade in PTBI and this stock lets me execute more smoothly so I took it. bought the remount of the MAs.
Order:
VWAP
price
20 (rising)
9 (rising)
stochastics - turning positive
Sell: flushed out and broke recent low.
Lesson: all day I had no luck with follow throughs. this adds to the idea that its safer to scale out on spikes and raise stops but with high commissions and lower share counts, that technique will slowly bleed acct. this one gave me a 0.06 spike before stopping out so not enough to scale out of. the real lesson might be that Friday afternoon isn't the best environment for what I was trying to do.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-05-08 15:27:00 | ICLD | buy | $4.060 | long |
| 2015-05-08 15:45:00 | ICLD | sell | $3.980 | 0 |
Comments
tee
Yeah, after reviewing my trades today I can see I strayed from clean setups. I will now let the sting marinate all weekend so I can come out a more disciplined trader on Monday.
kunal00
end of day and its not clean no time left
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I can see that it had reclaimed the moving averages, but it had already made a series of lower highs and lower lows intra day. I have been looking at VWAP a lot lately and I am thinking that the fact that it was under VWAP could be the deciding factor when you have a positive (reclaiming the ma's) and a negative (lower highs and lows). .... just something to think about. :-)