This turned out to be an amazing trade for me, I was watching how AFRM had a consolidation between 16.10 - 16.25, where the stock started to trade sideways. Once the stock moved past $16.25/$16.30 with some confidence I took my position. At this point the stock had been strong all day, the overall market was trending positively although I felt like AFRM had more of a trend, with less chop, than some of the other stocks that I was watching.
The 1-minute candles lined up to support my trend continuation strategy + my risk tolerance, so I went in with a fairly large position at $16.29. I took a I was able to take this trade with less a $.08 risk based on my trend continuation strategy that I am working with. I felt that my risk was fairly well in control and the stock worked with me.
I moved my stop up to the low of the previous 1-minute candle / maybe just $.01 - .02 below if the stock is trading in smaller ranges. This allowed me to follow the stock up until it stopped me out at $16.52.
Disclaimer: I broke the strategies rules here by moving my stop up to $10.52 which was not the low of the previous candle. the stock had taken a move up that was fairly strong and I felt like it was prone to pull back at this point. I was at 4.5R for this trade and was willing to get stopped out to save the profit. This ended up being a smart choice as the stock started to pull back right after this.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-11-11 10:45:49 | AFRM | buy | $16.299 | long |
2022-11-11 10:50:24 | AFRM | sell | $16.525 | long |
2022-11-11 10:50:24 | AFRM | sell | $16.525 | long |
2022-11-11 10:50:24 | AFRM | sell | $16.520 | long |
2022-11-11 10:50:24 | AFRM | sell | $16.520 | long |
2022-11-11 10:50:24 | AFRM | sell | $16.520 | long |
2022-11-11 10:50:24 | AFRM | sell | $16.520 | long |
2022-11-11 10:50:24 | AFRM | sell | $16.520 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!