GRPN Trade on Feb 17, 2016 09:33 from Togs: Tradervue User Stock Trades.

Grade=B
P/L=1.1R

Entry: shorted the opening range after a quick dip and a bounce. I was looking to short GRPN, especially after looking at the premarket price action and seeing weakness. After the quick dip to the downside on the open I saw that as my chance to take a small position for a quick trade.

Exit: Exited at 3.95. I though the price action was still weak after it hit 4.00, so I held on for 3.95 but definitely wanted to take some off. They I set 3.80 as a key level from the previous day to take off the remainder and call it a trade. The stock was still up overall after earnings, so I was just looking for that bit of retracement if the market was conducive to it.

Comments: Not a big winner in terms of winnings because I had a wide stop and a small position. I don't consider a 1R trade to be bad at all these days. I set my risk for the potential of 2:1, but on a scalp-type trade such as this, 1:1 is decent and it actually allows me to control my risk better because I don't feel the pressure to have my stop tight, but I can still tighten it up as I read the price action after my entry.