Shared by
kumarBOWS
Awesome play called out in chat.
It's my first time playing one of these bounce plays. Great low risk, high reward setup. I had a target of +.50c on the second half but I wussed out and took it early. I'll be keeping an eye out for more of these setups and adding them to my trading plan. 1:4 risk-reward.. my fav.
1st Half +.20c
2nd Half +.40c
note: taking partial profits have helped tremendously with keeping me in the trade. Now I just gotta have confidence in the setups to hold em longer
another note.. after 9 months of trading I just had a light bulb go off. I drew up a trading plan last month but never really paid much attention to it. Looking at it now, the only time I seemed to make money is when I stuck to the setups in my trading plan. Whenever I deviated from the plan I always lost money...
I think this is the final obstacle to consistency.. Sticking to my trading plan
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-03-18 11:20:00 | NQ | buy | $8.080 | long |
| 2013-03-18 11:39:00 | NQ | sell | $8.280 | long |
| 2013-03-18 12:32:00 | NQ | sell | $8.480 | 0 |
Comments
ckz8780
Man that was such a perfect bounce. I was eyeing it for a swing and like 3 min later I see Kunal post on Twitter that he was in it. Should have followed this one, I was annoyed cause I didn't get my perfect $8.01 entry...penny pinching. Stupid me.
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good job! yeah we could ahve held longer.u know sometimes when market is shaky im a little bit conservative.. see how it never broke support i should have let it ride up a bit.