Well, I divide this trade for two parts. One is a good one, and the second is just a chase.
Correct trade is only the first execution. I was buying a flag breakout for possible ORB, based on 1-min chart (you can increase a 1-min chart window for more information). I placed my stop under $65. It seemed for me, that there could be over $1 gain, so my risk/reward ratio was about 1/2. Sold it when I saw, that it could not break HOD. Gain in %: 1,17%.
In the second trade I was chasing for a reversal, but I entered too early. My mistake was that I added to a loosing position, so I made my loss bigger with this stupid action.
Later the stock reversed and I caught this move. I entered with a bigger position to have an opportunity to cover my previous loss. The gain in % was 1.67%. It is a good profit, but it was not a trade, but chase.
The lesson is that I should stop chasing and I have to trade only patterns.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-07-09 09:44:46 | WUBA | buy | $65.690 | long |
2015-07-09 09:48:21 | WUBA | sell | $66.460 | 0 |
2015-07-09 10:33:03 | WUBA | buy | $63.970 | long |
2015-07-09 10:40:15 | WUBA | buy | $63.560 | long |
2015-07-09 10:42:03 | WUBA | sell | $63.070 | long |
2015-07-09 10:42:03 | WUBA | sell | $63.090 | 0 |
2015-07-09 10:49:12 | WUBA | buy | $63.540 | long |
2015-07-09 10:49:12 | WUBA | buy | $63.540 | long |
2015-07-09 11:11:45 | WUBA | sell | $64.620 | long |
2015-07-09 11:12:38 | WUBA | sell | $64.630 | 0 |
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