Bought low on my entry of SPY and sold my full position at the box high from the previous day. Did not use risk-adjusted sizing. Good R:R to previous day's high, but it went even further than the existing box high. I think I have to also consider the average range the stock has moved over the last 3 to 5 days and if it opens at the top of the previous box range, I can use the average daily range to help estimate a target.
Since I made a profit I increased my share size for my next entry. Got stopped out as SPY spiked in the opposite direction. Could have got back in but that would have felt like revenge trading and taken to much mental capital.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-06-07 09:31:35 | SPY | buy | $211.570 | long |
2016-06-07 09:36:33 | SPY | sell | $211.710 | 0 |
2016-06-07 09:45:49 | SPY | buy | $211.800 | long |
2016-06-07 09:48:00 | SPY | sell | $211.600 | 0 |
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