Shared by
RPB3
Stock gapped up in the morning and ran. Started to pull and flag. Bought the flag and sold the spike. Should have held the second half longer.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-07-29 09:41:33 | EVOK | buy | $3.900 | long |
| 2016-07-29 09:42:05 | EVOK | sell | $3.990 | long |
| 2016-07-29 09:43:15 | EVOK | sell | $4.010 | 0 |
Comments
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What was the plan here? If just quick scalp was the idea then nice trade. If I was long there, my plan would probably be risking 3.80 o/u - meaning if it hits 3.80, don't stop out immediately, but get ready to if it doesn't reclaim. Granted thats easier said than done here at 9:40am right out of the open, if it failed it could have washed pretty big which puts you in a tough spot - that's why I recommend waiting for at least 15-30 mins before placing trades when in account building mode. This is a reactive open trade, which tend to have lower probability win rates in my experience versus something like a VWAP hold, or trend break play , etc. But these trades can be profitable as well - so as long as you're using very small size, I have no problem with you getting your feet wet trying them