Shared by
NWJames2_BOWS
thought when it break daily high; could scalp it; sice stop is 0.3% use 2x size; there were two taps on high of day +0; there is not enough edge; should not trade this pattern. had potential flat trade
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-03-18 13:04:00 | HRB | buy | $27.510 | long |
| 2013-03-18 13:04:00 | HRB | buy | $27.510 | long |
| 2013-03-18 13:53:00 | HRB | sell | $27.520 | 0 |
Comments
ckz8780
Sick! Also just to add to what Kunal said I find these bigger stocks almost always retest the round number like that. You nailed it right at the .50 mark and it came back to retest it. Your entry was nice and it was the 3rd test of HOD AND going red to green. It had every reason to go up. When testing these patterns try not to go too big just cause the risk is low. Sticking w/ the same size or only a little bigger will keep you in the trade. I bet you sold cause you were emotional about being in 2x size and thought you would lose money faster! Use smaller size to build your account and your confidence while you learn!
BTW I have been watching this stock for like 5 days trying to figure out how to hit it and I have lost on it four times. It's a tough stock to play lol
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you had this! remember old resistance becomes new support! so that breakout spot where u bought will be teh new bounce spot..remember stocks will often retest their breakout spot . price has a memory u shouldnt have sold it.ur setup and entry were valid. not perfect but still worht taking . great job on the entry