AMZN Trade on Jun 7, 2013 11:01 from J2WS: Tradervue User Stock Trades.

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J2WS

Another successful trade thanks to the amount of

homework

that I have

done

on AMZN.

Do your homework

http://www.youtube.com/watch?v=YXQ_gV6hWqw

I've lost money on AMZN in my previous ideas. None of them worked, but I never gave up on the bigger picture. I kept my alerts because I knew when it hit my levels I was going to take action. Well AMZN hit my level this morning. First thing I did was bought some call options for a swing trade, but there's no point in letting this beautiful intraday chart go to waste so I got into a position on the Bull Flag.

There was a huge spike that shot up to 280, not really sure what that was about but it was with significant volume. Then I just waited, no reason to over trade because I liked it so much on the Weekly chart. But once I see it develop a base near the early Bull Flag breakout area I decided to add some size. I sold into strength towards the end of the day as I was leaving for lunch.

See this

link

to my blog post (link to be added soon) to get a more detailed look on how I could have improved on this trade.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-06-07 11:01:21	AMZN	buy	$274.400	long
2013-06-07 14:36:33	AMZN	buy	$275.510	long
2013-06-07 15:42:54	AMZN	sell	$277.200	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=AMZN&trade=485278&end=20130607160000&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=AMZN&trade=485278&end=20130607160000&i=m60&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=AMZN&trade=485278&end=20130707&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=AMZN&trade=485278&end=20131104&i=w&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

JoJoTrades

2013-06-07 20:05:53

nicely done...the trade really shows your confidence, and skill.

ckz8780

2013-06-09 13:04:22

You know, I really like most of your trades, but the one thing I don't understand is why you're settling for such SMALL gains on such HUGE positions. Clearly if you are taking 50-100-200k positions you have enough buying power to play with large sizes. Why not trade some smaller stocks with high liquidity and really bring home the cake? I know a guy who trades similar sizes ($-wise) but on small cap stocks and rakes in $20-30k per DAY. He is a great trader and takes large sizes just like you but his percentage gains are probably 8-10x what yours are. I see you're making decent money doing this but I think you could do a lot better. Just my $0.02 :)

J2WS

2013-06-09 14:39:23

I hear and appreciate what you are saying. Right now I'm just focusing on $ risk per day trade and I don't really look at $ committed to the position. Maybe I should at some point but I haven't yet. For example I risked $100 on my first entry and I risked even less on my second entry. I plan on gradually increasing the $ risk per trade as I get more consistent with my trading and reach certain milestones.

But perhaps I can start adding some small caps to my nightly scanner. Maybe I'll be able to find a set up that I must take?

AMZN Trade on Jun 7, 2013 11:01 from J2WS: Tradervue User Stock Trades.

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