Shared by
cwainscott_BOWS
Pullback play.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-09-30 11:25:00 | VRX | buy | $167.080 | long |
| 2015-09-30 12:01:00 | VRX | sell | $172.690 | 0 |
| 2015-09-30 12:49:00 | VRX | buy | $167.190 | long |
| 2015-09-30 13:02:00 | VRX | sell | $170.210 | 0 |
| 2015-09-30 13:15:00 | VRX | buy | $169.770 | long |
| 2015-09-30 13:18:00 | VRX | sell | $172.610 | 0 |
| 2015-09-30 13:32:00 | VRX | buy | $172.550 | long |
| 2015-09-30 13:48:00 | VRX | sell | $177.110 | 0 |
| 2015-09-30 13:56:00 | VRX | buy | $173.360 | long |
| 2015-09-30 15:34:00 | VRX | sell | $180.000 | 0 |
Comments
cwainscott_BOWS
I don't do that unless I think the trend is going to reverse. If it's trending up I only play to the upside. If it's trending down I short. I don't try to sell and short because you can't know for sure where the top or bottom will be.
parv26
Hey Christy! Excellent trading. I am try to study most of your trades and I found you are useing VWAP as a pretty strong support/resistance depending on the trend direction you are playing.
With this one, and your first long entry, I saw that you you just got in right about 9EMA, am I correct? If yes, what would have been your stop if it didnt work out (VWAP?) In retrospect it looks like a flag breakout too, but when entering I am not sure what you thesis was.
Also with your second entry prior 1pm, I saw you bought into the panic right above VWAP. I am wondering where would you have set your stop for that because if it wouldn't have worked out and broke VWAP, it was gone flushed fast?
Thank you. I hope this in not a lot. Just want to know your thought process. You learn form the best :D
I don't always set my stops under/over the moving averages but a lot of times I will. It really depends on how far away the VWAP or other moving averages are (I use 20SMA, 9 EMA and VWAP on intraday; I don't have my charting software open today). For stocks I like to see their range. For VRX it has a high range of several dollars that it can swing. So if it's a strong play (flag and pullback with volume and stochastics on my side) I may risk $1. If it's a riskier play I may not set my stop as loose. I don't have just one method that I use for my stops. I gauge it as I go. I know it isn't conventional but it's more intuition really. I don't always wait for the stock to get all the way down to my stop sometimes either. If I see something beforehand that I don't like or things seem to not be going right I will get out and reassess.
parv26
Thanks for explaining.
How do you access your entry point though? Especially with trade and like most of your trades you seem to be spot on with your entries.
Do you focus on pullbacks at 20MA or 9EMA or VWAP or all? I have also noticed sometimes you start with a short right below 20MA, even if its far and above VWAP? I guess I just want to understand you different approaches into entry points.
Its hard to justify a entry with risk even knowing that its a flag or flat top breakout. I hope this makes sense.
Thanks!
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Very nicely done! Would it have also been a good idea to try to short the stock in between each of your trades as well or should we just focus on one direction, either long or short, at a time?