Shared by
pstark89
Entry was pretty good when I shorted on the bounce. Sold partial first flush. Stop was 48.40. Target was 47.4. It spiked back up and didn't play out until later in the afternoon.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-05-13 09:51:59 | APC | sell | $48.260 | short |
| 2016-05-13 09:58:56 | APC | buy | $48.090 | short |
| 2016-05-13 10:21:53 | APC | buy | $48.240 | short |
| 2016-05-13 10:53:47 | APC | buy | $48.420 | 0 |
Comments
pstark89
My plan was for a short on the name. It dipped down close to a buck on the first candle and recovered. I thought it was going to crack again. My stop was above the high of the first candle.
wperiman
In my experience, if you can't name the setup then you shouldn't be in the trade. Most of my biggest losses come from a) trying to guess the top of a parabolic and b) trading based on what I think the stock price will do.
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Why was it a good entry? Not saying it wasn't, but you can't base that value judgment on the outcome. Outcome's are unknown at the time. So.. setup?