I was being stubborn with this one and trying to long it for a bounce while the market was dumping. Once it remounted the moving averages and the vwap it started making higher lows so I thought it could take off. This is actually two trades in one because tradervue combined them. The second trade actually the first trade in my $100 live account! It was a 25 share position and I stopped out with a half a percent loss to my $100 dollars. I technically broke my rules with this live trade as well since my trading plan is focused on only the first two hours and I have a limit of 3 trades a day. I was very anxious to make the first live trade in months and test the waters with the Robinhood app though. As soon as the breakout failed I sold my 25 share live position, partly because it didn't need to hit my stop for the setup to be invalidated and partly because you can only market order in Robinhood trading app so I didn't want to wait for it to hit my actual stop. That ended up being the right decision because it dumped minutes after and cracked when it broke back under the moving averages and the vwap.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-26 11:23:05 | ONTY | buy | $3.250 | long |
2015-05-26 11:29:15 | ONTY | sell | $3.210 | 0 |
2015-05-26 12:06:05 | ONTY | buy | $3.300 | long |
2015-05-26 12:12:10 | ONTY | sell | $3.280 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!