Shared by
James_BOWSsim
Looking for a bounce play on the daily. Stock gapped up and tried to get in before the ORB as price began to ride the VWAP. Scaled out half my shares to be able to move my stop up closer. Then stock began to go against me and I got stopped out. For some reason that next candle spiked down and I got a crappy fill price. Could have been a really nice trade if I hadn't moved my stop up so close so soon.
Kind of feel like I expect my setups to work immediately, and if they don't I start to mitigate risk and scale out too early. I need to learn to relax and let things ride a little more to make the juice worth the squeeze. If I'm willing to risk $80-100 per trade to only scalp a quick ~$50, its not worth it at all. In fact its counter productive.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-01-12 09:47:58 | LULU | buy | $59.815 | long |
| 2016-01-12 09:48:02 | LULU | buy | $59.818 | long |
| 2016-01-12 09:56:43 | LULU | sell | $60.060 | long |
| 2016-01-12 10:00:19 | LULU | sell | $59.550 | 0 |
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