Daily flag breakout. Great trade made bad by greed. The first entry was great. I noticed after it broke $54.50 it quickly failed so as the 5 min 20sma caught up, the stock bounce off it four times. I bought what I THOUGHT would be the fifth bounce off the MA and subsequent breakout above $54.50 but the stupid thing failed through the MA and ate up all my gains. I really wanted to give this one to $54.30 since that's where the daily breakout was, but that would have again turned a gain into a loss and I didn't want to do that so I sold for a $10 gain. Of course, 20 minutes later after basing just above where I wanted to put my stop, it picked up steam and pushed through $54.50 and beyond. Oh well, such is the stock market and its shenanigans. Made 10 bucks.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-12-17 10:37:06 | SBUX | buy | $54.210 | long |
2012-12-17 13:12:11 | SBUX | buy | $54.470 | long |
2012-12-17 13:12:11 | SBUX | buy | $54.470 | long |
2012-12-17 13:22:30 | SBUX | sell | $54.375 | long |
2012-12-17 13:22:31 | SBUX | sell | $54.370 | 0 |
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