On the daily chart the stock was hitting resistance (20EMA) so I assumed it would go down, so I was looking to short on the intra-day chart.
My first short entry was actually at $22.70 around 11am but i did a Limit order and apparently it was never filled. Have to review when to use Mkt vs Limit orders. Saw a flag with the range narrowing from 12am to 1pm and I expected it to break down a lot so I shorted More at $22.02, but it just went down a little and I held beyond that waiting for more.
I actually thought the green candle at 1.40pm was a rest point so I shorted more expecting it to go lower. I did think that 11 stochastics was low enough for it to be oversold and bounce.
I guess I was expecting bigger moves given the large morning move, but I forgot that the largest moves take place in the morning. Didn't realise the afternoon moves would be so small. Im glad that I practised shorting on my first day and that I tried expanding my position and shorting more shares instead of just going with my original short.
I did not use any stop losses today. I don't know how to do that yet on ToS.
I think I did not have the charts displayed properly while trading (view was too stretched horizontally). The pattern looks a lot clearer in TraderVue.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-10-30 11:56:13 | CEMP | sell | $22.020 | short |
2015-10-30 12:04:12 | CEMP | sell | $22.230 | short |
2015-10-30 12:37:03 | CEMP | buy | $22.290 | short |
2015-10-30 14:20:30 | CEMP | buy | $22.440 | 0 |
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