$VRX was on my watchlist for the bear flag, parabolic pullback on the daily. Daily chart was up 3 days in a row. I was hoping for a green to red, but the stock gapped down, so I was looking for a bear flag. I entered short at the first red arrow and got stopped out at the second. I played too many shares trying to make something happen and got stopped out. I covered at HOD. My stop should have been closer to $33, stop at the current HOD on the chart and I should have waited for the flag to tighten a little. I played 300 shares->0.40 cent stop, I should have played 150 to 200 shares. I would give myself and A for the daily setup, B for the intraday setup because I probably needed the intraday flag to tighten a little more and a D for execution, I had too many shares for my account size. MB said in Market Recap, "the daily chart was so obvious you have to give you stop room."
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-03-24 09:59:48 | VRX | sell | $32.270 | short |
2016-03-24 10:01:55 | VRX | buy | $32.591 | 0 |
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