Tags:
good short into extension. No right side adds bc not much margin of safety with crazy name back of over key $200 level. Good stop management
Execution detail:
Date/time | Symbol | Qty | Price | Position |
---|---|---|---|---|
2021-09-13 13:24:34 | GME | -100 | $207.270 | -100 |
2021-09-13 13:26:08 | GME | -50 | $206.650 | -150 |
2021-09-13 13:51:49 | GME | 100 | $203.210 | -50 |
2021-09-13 13:53:28 | GME | 25 | $202.650 | -25 |
2021-09-13 13:56:32 | GME | 15 | $201.850 | -10 |
2021-09-13 14:12:15 | GME | 10 | $204.600 | 0 |
thanks bud. It depends (not a helpful answer I know). As a parabolic move sets up, prior to entry I'm thinking about the potential of how far it can go and when/where the setups gets good enough to start entering on left side. After first entry I try and have a price in mind that if it gets above that then I've clearly underestimated potential so I want to play defense (lighten up or cover) and wait for right side entries. This is tough thing to do bc theoretically the setup is getting better (the reward to risk and the probability of trade working get better) the farther it goes. So a bit of a paradox.
In this trade I was looking at prev day high as potential support so there wasnt much reward available in name that can get crazy so knew i needed good price and wasnt gonna chase down and ruin it. For most part my stop will be on a new high after stock has turned down.
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Nice trade....as always, lol. When you get short into an extension and heavy volume, are you still planning on scaling or adding to a certain price level if it were to keep climbing? And are you going back to previous days for resistance to base your stop on?