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HK_BOWS
Why I took a trade: Gap up and wait for run into resistance.
Why exit: Had no real reason to exit. Saw profit, didn’t want it to come back.
Hindsight thoughts: Minimized winner, had great entry but I cut off trade way too early.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-05-13 09:32:01 | MOMO | sell | $12.750 | short |
| 2016-05-13 09:35:15 | MOMO | buy | $12.540 | short |
| 2016-05-13 09:38:45 | MOMO | buy | $12.280 | 0 |
Comments
kunal00
2016-05-22 15:30:53
thats a pretty good trade regardless only thing i would have done different is to add some short on the first bounced o 12.2
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When you see this setup - don't be afraid to take some off the table - but then WAIT and re-enter on a spike to resistance. I would have kept a third or quarter of the shares and still booked a profit - even with a stop over the high of the day --
Re-entry at 12.20 back to full size. See how it went right back to test resistance?
Target for half of 2nd entry @ low of day.
Flat around 11.7 with volume coming in and candle breaking high of previous bottoming tail.
Don't trade your pnl so much as trading the setup. You have the right idea, but will end up leaving alot on the table and burning through your mental capital by trading your pnl. Hope that helps a little.