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This was the easiest money trade I made all day. I had traded a lot of shares up to this point, but hadn't made much money. This trade did work really well though.
TSLA had news in the afterhours the previous day that Elon was done selling shares. It had a very steep decline that day and popped on the news. This made it one of the few names with news on this otherwise slow trading day.
TSLA had made a really steep move off the low, wicked over 125 and pulled back only $1 more. When it reclaimed 125 I took a long position in anticipation of another leg up. I happened and was just as steep as the first. I was completely out around 128 having taken partials the entire way up. It went a little higher and capitulated before seling back down $6. I totally missed that trade. Very strange price action on the last trading day before the holidays.
Execution detail:
Date/time | Symbol | Qty | Price | Position |
---|---|---|---|---|
2022-12-23 10:31:38 | TSLA | 180 | $125.204 | 180 |
2022-12-23 10:32:20 | TSLA | -18 | $125.430 | 162 |
2022-12-23 10:32:21 | TSLA | -18 | $125.440 | 144 |
2022-12-23 10:32:26 | TSLA | -2 | $125.570 | 142 |
2022-12-23 10:32:26 | TSLA | -2 | $125.570 | 140 |
2022-12-23 10:32:28 | TSLA | -14 | $125.570 | 126 |
2022-12-23 10:32:37 | TSLA | -18 | $125.820 | 108 |
2022-12-23 10:32:44 | TSLA | -18 | $125.860 | 90 |
2022-12-23 10:33:36 | TSLA | -9 | $125.750 | 81 |
2022-12-23 10:33:36 | TSLA | -9 | $125.760 | 72 |
2022-12-23 10:33:44 | TSLA | -3 | $125.850 | 69 |
2022-12-23 10:33:44 | TSLA | -6 | $125.850 | 63 |
2022-12-23 10:33:55 | TSLA | -9 | $125.710 | 54 |
2022-12-23 10:34:04 | TSLA | -4 | $125.720 | 50 |
2022-12-23 10:35:08 | TSLA | -10 | $126.170 | 40 |
2022-12-23 10:36:56 | TSLA | -5 | $126.340 | 35 |
2022-12-23 10:37:04 | TSLA | -5 | $126.430 | 30 |
2022-12-23 10:37:54 | TSLA | -5 | $126.690 | 25 |
2022-12-23 10:38:09 | TSLA | -5 | $127.000 | 20 |
2022-12-23 10:38:15 | TSLA | -5 | $127.300 | 15 |
2022-12-23 10:38:23 | TSLA | -5 | $127.421 | 10 |
2022-12-23 10:38:51 | TSLA | -5 | $127.750 | 5 |
2022-12-23 10:38:59 | TSLA | -2 | $127.830 | 3 |
2022-12-23 10:39:03 | TSLA | -2 | $127.860 | 1 |
2022-12-23 10:39:09 | TSLA | -1 | $127.830 | 0 |
Nice catch JROCK, was seeing this completely reverse but because of the continued weakness did not want to long into this huge extension move, during this trade was thinking you could momentum trade this and get in quickly at these whole number pull ins, - 125 - 126 - but decided to be hands off, ended up catching part of the move on this backside - was curious on what your stop loss was, if I had taken this trade, I would have a really tight stop right back at 125 here and would practically get full sized here, I was curious on what your stop loss was here for this trade?
$125.2 bounced twice during off hour. Good level to watch, but you seems to buying breakouts. What’s your stoploss,
$124.2 seems like a logical area to see whether market would be making a lower high.
$126.7 as it topped 3x towards end session of previous day. That area should be your first trouble area
You have already scaled out 85% of your position. Try to hold for better rr
I am not really buying breakouts, but scalping between levels. My stop loss was a move back below 125, so like 124.85. Really not giving it much room. I tend to reduce my position size rapidly to cover risk, sometimes too quickly though. Definitely I didn't think the move would look like this, highly unusual price action.
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Nice catch