Shared by
LPeriman_BOWS
Oil stocks started dropping heavy and I just looked for one that hadn't yet dropped. Found WLL which had a great daily chart for short and Intra-day daylong bear flag with a good spot to manage risk. My plan was to enter near resistance with 1/3 position and add the rest on confirmation of breakdown. It didn't work, but I only lost 4 cents on 1/3 position size.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-08-14 15:02:44 | WLL | sell | $19.170 | short |
| 2015-08-14 15:31:12 | WLL | buy | $19.215 | 0 |
Comments
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It had made a higher high and a higher low already when you entered it short. Watch for that and it will keep you out of a lot of trades that would go against you. Good risk managmnet