Shared by
James_BOWSsim
Large gap down today at the open, again was hoping for an early mean reversion. Didn't bide my time on this one and just kept diving into it. Got stopped out twice, and had one small scalp. Then I decided to short it once it bounced into the 9 EMA and found some resistance. Covered way to early again. Probably more psychologically than anything to cover my losses from getting stopped out of GOOG like 5 times. Lesson to be learned here is to wait for an actual trend to develop before just jumping into a stock because I want to stick to my plan.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-01-20 09:40:00 | CMG | buy | $461.100 | long |
| 2016-01-20 09:42:00 | CMG | sell | $458.480 | 0 |
| 2016-01-20 09:45:19 | CMG | buy | $460.420 | long |
| 2016-01-20 09:48:16 | CMG | sell | $461.956 | long |
| 2016-01-20 09:53:26 | CMG | buy | $461.434 | long |
| 2016-01-20 09:54:21 | CMG | sell | $459.850 | 0 |
| 2016-01-20 10:00:11 | CMG | sell | $463.000 | short |
| 2016-01-20 10:01:43 | CMG | buy | $461.290 | short |
| 2016-01-20 10:03:03 | CMG | buy | $460.110 | 0 |
Comments
kunal00
the mean reversion is best on day 1 or 2 of a big run or bounce.. once the bounce is completed the gap down more likely is a sign that its going back to its old spots
James_BOWSsim
On this one I was initially hoping for a red to green Lawrence. Kind of weird trying to long this though after a dead cat bounce lost its steam.
Now that I look at this Kunal I should have seen this bear flag developing and realized the run was already over for now. Thanks guys.
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What were the setups?