Shared by
James_BOWSsim
This oil stock did exactly what I anticipated on the daily, it ran up to resistance at $20, then faded the rest of the day. Unfortunately on an intraday time frame I didn't play it right. While it gapped down and went red-to-green I actually scaled in and shorted it a few times. I think I was half following people in the chatroom on this one. I still haven't discovered a reason to justify entering on the first two candles at the open. So in the future I will stay away from jumping the gun to avoid making mistakes like this that turn me off the stock later to my detriment.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-01-25 09:33:54 | GLNG | sell | $17.500 | short |
| 2016-01-25 09:35:23 | GLNG | sell | $17.220 | short |
| 2016-01-25 09:39:13 | GLNG | sell | $17.540 | short |
| 2016-01-25 09:41:35 | GLNG | sell | $17.570 | short |
| 2016-01-25 09:42:35 | GLNG | buy | $17.990 | short |
| 2016-01-25 09:42:35 | GLNG | buy | $17.990 | short |
| 2016-01-25 09:42:35 | GLNG | buy | $17.995 | 0 |
| 2016-01-25 09:42:35 | GLNG | buy | $17.995 | long |
| 2016-01-25 09:44:04 | GLNG | sell | $17.820 | 0 |
| 2016-01-25 09:47:16 | GLNG | sell | $17.920 | short |
| 2016-01-25 09:48:07 | GLNG | buy | $18.320 | 0 |
Comments
James_BOWSsim
Hey Lawrence I made some killer trades today hahah. Taking tm off to get some stuff done, so I'll post them. Traded a few oil ETF's at today's open and nailed them all. It can be tempting when seeing people in the chat room go in kind of heavy at like the opening candle lol. But you're absolutely right, I'm going to stick to what I've learned in BC. Tradervue says my largest losses are within the first 10-15 minutes of the open.
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Yeah, I tend to agree with you about the first couple minutes. Maybe a high relative volume intraday support/resistance break from previous day with a R/G or G/R trigger would entice me to enter in the first 10 minutes of the day. Otherwise it feels to me like guessing. Legitimate BOWS opening patterns requires at least the 3rd 5 minute candle. Especially for tickers that trade with oil, but aren't oil stocks. I find them to sometimes lag oils a bit.