Stalking for the parabolic pullback is a great play but execution is key. The daily chart was ripe for a pullback so I came in to the day with a short bias on ACAD. The problem is that I tried to play the frontside of the move trying to anticipate where the top might be. As always, my plays need to have a set R/R which is impossible when I don't know where the top is. If I am playing without a set top, I need to have the discipline to stop out once my max loss per trade is hit.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-07-15 09:58:16 | ACAD | sell | $50.410 | short |
2015-07-15 09:58:19 | ACAD | sell | $50.410 | short |
2015-07-15 09:59:30 | ACAD | buy | $50.690 | short |
2015-07-15 10:03:23 | ACAD | sell | $50.870 | short |
2015-07-15 10:06:26 | ACAD | sell | $50.860 | short |
2015-07-15 10:06:29 | ACAD | sell | $50.850 | short |
2015-07-15 10:14:27 | ACAD | buy | $51.190 | 0 |
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