Shared by
ASJ
Well, I took advantage of this quick breakdown of the market hitting its major resistance point. I totally missed this breakdown but I took advantage of the bounce from its lows to the upside. While the market was breaking down (SPY), I was making note of major support levels and watching for a bounce from SPY and at the same watching AMZN because amzn really tends to move with spy. I saw SPY starting to bounce and aswell as AMZN, so I longed it for a quick scalp play. I wish I caught right at the bottom but amzn tends to move fast. Well, at least it worked out but I feel like exited the trade to early, I should of put my limit sell order near the vwap...
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-05-18 14:35:06 | AMZN | buy | $691.460 | long |
| 2016-05-18 14:40:07 | AMZN | buy | $691.900 | long |
| 2016-05-18 14:49:22 | AMZN | sell | $692.930 | 0 |
Comments
LPeriman_BOWS
What was the setup? I read that you were just waiting for a bounce in market, but without a setup you can't control your risk. If stop is low of day, then your R/R is less than 1:1. Agree you have to have a reason 2 exit the trade. Getting less than 1/4 of 1% in a move is tough to sustain in the BOWS trading system
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nice