Shared by
traderdanbows
This was an ORB gap up due to news (this is an ETF based on 20 yr bonds: bond prices go up this ETF goes up). I played the news about the great employment report for Oct that came out premkt. Employment went up= long term bond yields go up and this ETF goes up. I stayed with this trade until the price went below the ema's by more than a few cents.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-11-06 09:30:32 | TBT | buy | $45.800 | long |
| 2015-11-06 09:35:40 | TBT | buy | $45.840 | long |
| 2015-11-06 12:12:49 | TBT | sell | $46.081 | 0 |
Comments
traderdanbows
Good points Tradergrams and thanks for the comments. I did not scale out because I thought the price would continue upward. I looked at the daily and thought it might go up another point from where I got in. I was going to start scaling out when I was up about .50 cents. I will definitely consider scaling out next time sooner especially with the number of shares I had (800).
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If it were me, I would have taken half or a third off the table after that first surge, then added some more when it was ready to break consolidation...and selling the rest (minus a few lottos) into those two large green candles. #hindsighttradersays