The daily chart showed a flag pattern starting to build. In hind sight it probably needs a few more days to build out.
It pushed at the open and i wanted to be a part of it before the 8.50 range from the previous day in case it did breakout.
It ended up trading sideways and tightening up into a flag so i added a little bit to my position.
From here it started to push and i sold 1/4 of my position as well as moved my stop loss up to just above break even.
This push didnt hold and it retraced right back and stopped me out of the other 3/4 shares. I made a small profit on this one. I dont know if i should always sell 1/2 of my position on the first sell or what. That would have helped me lock in more profit on this one.
And then i could sell 1/4's from there. Ill have to think about that some more. I think i sold 1/4 this time because i knew if it did breakout big on the daily chart it would have alot more range than i was seeing in this moment, so i wanted to save some shares for a higher level. Anyway on to the next one.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-10-18 09:39:18 | BBIG | buy | $8.430 | long |
2021-10-18 09:54:01 | BBIG | buy | $8.430 | long |
2021-10-18 10:03:16 | BBIG | sell | $8.700 | long |
2021-10-18 10:18:18 | BBIG | sell | $8.440 | 0 |
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