Traded this a couple of times. The first entry was just ok. I saw that the SPY was hitting HOD but the volume was fading and it was the third flag on its way up so I thought that it had a good chance to fall back a bit. The SPY continued up a bit and I was in the red for a while. Then, SPY finally broke down a bit and I sold half. Probably should have readjusted my stop higher since I was thinking that SPY would trend down. The second entry was better but still not great. I decided to take a smaller position. SPY had just hit a new HOD but still lower volume and the pull back was pretty fast on the 5 minute candle. This time, I was able to ride it for a dollar gain. A few minutes later, the price actually hit the vwap (64.40) and it bounced so I did leave some money on the table. Pretty satisfied with these 2 trades since they were successful and I know I can do better with position/risk management.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-09-11 12:10:13 | UVXY | buy | $63.110 | long |
2015-09-11 12:11:38 | UVXY | buy | $62.970 | long |
2015-09-11 12:42:29 | UVXY | sell | $63.880 | long |
2015-09-11 12:47:10 | UVXY | sell | $63.250 | 0 |
2015-09-11 12:51:08 | UVXY | buy | $62.680 | long |
2015-09-11 13:20:45 | UVXY | sell | $63.750 | 0 |
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