WFT Trade on Feb 5, 2016 09:41 from James_BOWSsim: Tradervue User Stock Trades.

This stock gapped up off of earnings the previous day. Today being the day after I was looking to long it on a red to green type of move. It gapped down only a penny and I longed it once I saw a green candle unfolding. Had my stop at $7 and used less position size because the $7 level didn't seem to be strong support, more psychological than anything. Covered into the spike, and scaled out in thirds (I wanted to milk this thing).

Got out when I thought it was too extended. I didn't exactly get the best entry, it was just about to test up into the VWAP as I entered. I only risked ~20 cents/ <60 bucks, but I was hoping for it to test highs again after that nice run the previous day. My risk to return seemed good at the time, but used less than my max shares since it was going straight into resistance.

*Should have flipped it and shorted as it failed to hold around $7.45 as the market began to fade.

Execution detail:

Date/time	Symbol	Side	Price	Position
2016-02-05 09:41:37	WFT	buy	$7.190	long
2016-02-05 09:41:37	WFT	buy	$7.190	long
2016-02-05 09:41:37	WFT	buy	$7.190	long
2016-02-05 09:49:57	WFT	sell	$7.260	long
2016-02-05 09:50:51	WFT	sell	$7.330	long
2016-02-05 09:53:06	WFT	sell	$7.370	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=WFT&trade=4200212&end=20160306&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=WFT&trade=4200212&end=20160205121806&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

kunal00

2016-02-06 21:15:20

perfecto

LPeriman_BOWS

2016-02-07 13:27:25

How is this an ORB?

James_BOWSsim

2016-02-08 23:13:09

I was originally trying to play the ORB. But definitely a quick pullback buy here. Would the previous end of day count as part of the pullback on this chart?

LPeriman_BOWS

2016-02-08 23:32:22

Well, you know what they say about opinions ;). But, here's my stinky one ... there's no BOWS setup on this stock beyond just playing support bounce. NOT saying you shouldn't play it if you like it. What I love about about it is the low risk bounce. http://screencast.com/t/jtE1AjP0U

That's nice! I was only questioning your stated setup. At some point, if not already, you'll want to evaluate yourself on performance for different variables including setup and I just don't see a text book ORB or Quick Pullback. But, I'm using MY understanding.

WFT Trade on Feb 5, 2016 09:41 from James_BOWSsim: Tradervue User Stock Trades.

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