UVXY Trade on Jan 21, 2016 11:56 from ToqueX: Tradervue User Stock Trades.

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Grade=D
P/L= +1.5R

Entry: chased the flush (generally a bad idea)

Result: I caught the downside momentum and profited a little. I knew I was chasing, so got out quickly.

Lesson: I know that there must be some traders who specialize in chasing and do it profitably, but I'm sure it requires a LOT of experience and failure to get a good feel for it. This was a risky level to get short at. If it's confirmation I'm after, it would have been a better idea to get in right after the break of 49 and be ready for a retest of the level. Another possibility would be to wait for that retest (which we didn't get in this case). A lot is left up to chance on an entry like this.

Execution detail:

Date/time	Symbol	Side	Price	Position
2016-01-21 11:56:58	UVXY	sell	$48.380	short
2016-01-21 12:00:21	UVXY	buy	$47.880	short
2016-01-21 12:01:19	UVXY	buy	$47.559	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=UVXY&trade=4147287&end=20160220&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=UVXY&trade=4147287&end=20160121160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=UVXY&trade=4147287&end=20160121143119&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=UVXY&trade=4147287&end=20160121122919&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

UVXY Trade on Jan 21, 2016 11:56 from ToqueX: Tradervue User Stock Trades.

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