This trade was one where a very tight stop worked out for me. I missed the first big runs on XPEV and started looking at it around 10:30. I had checked it out earlier in the day and to be honest just forgot to come check it again as I was watching other tickers.
The stock was on a tear and running way smoother on an uptrend the rest of the market seemed to be. It pulled back right before I took this trade, but I felt like it was a pause only. I was noticing the size of the previous trend pauses and this looked about the same. I took the trade with a fairly large position as I had an extremely small stop loss on this one, based on my previous candle low spot loss strategy. ($.05 stop loss)
The stock worked with me and the trend continued. I moved my stop up more aggressively as the stock started to tear up more aggressively (had been using the low of the previous 1-minute candle) and then doubled my position at $8.09. Unfortunately the stock paused for a bit there and I ended up stopping out at breakeven for my new add and profit for the initial position. I walked away with 5R on this trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-11-11 10:36:56 | XPEV | buy | $7.828 | long |
2022-11-11 10:49:48 | XPEV | buy | $8.099 | long |
2022-11-11 10:53:55 | XPEV | sell | $8.095 | 0 |
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