Shared by
ToqueX
Grade=D
The setup: ORB / sympathy play
The result: It didn't break below the opening range. Other solar stocks were dropping quite a bit, so when this broke through its MAs on the 5m chart, I was looking for some follow-through to the downside. I didn't get it, but wanted to experiment with a wider stop and more conviction in the idea that got me in, so I added to my losing position (a break of my rules, but planned as such). It did come back down, but no real profits here and scaled out the last half when it tested 50.20 again.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-08-19 09:51:32 | SCTY | sell | $50.000 | short |
| 2015-08-19 09:54:28 | SCTY | sell | $50.290 | short |
| 2015-08-19 10:00:34 | SCTY | buy | $50.010 | short |
| 2015-08-19 10:23:52 | SCTY | buy | $50.200 | 0 |
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