ZSPH was up well in the AM then pulled back and looked as if it would break out above the opening bar at 61 and test the highs at 65 on the daily. It was looking a bit risky so I bought 50 shares with my stop below support. I sold half at 66 and the rest at 69. but I'm still confused on when to scale out or add, or just sell.
I asked MB on the Trade Review where she would have sold, and she said she would not have taken this trade since it was up on Intraday News, or BIIB (that I had as well) since the daily was not setting up.
Although I did well on each trade, it teaches me that she waits for everything to set up and is one of the reasons why she only trade a few times (a day) and does so well. It was great to know. Like Kunel says, you can trade sloppy in a bull market and make money, it's the harder markets where the rules are needed to survive.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-09-10 09:42:06 | ZSPH | buy | $61.290 | long |
2015-09-10 10:04:46 | ZSPH | sell | $66.270 | long |
2015-09-10 10:08:55 | ZSPH | sell | $69.330 | 0 |
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