Yes, I risked about .30 cents on this trade for a total of 240 dollars, within my risk criteria for a reward of about 1 point. The R v R was there so I made the trade.
I did not use a Feeler for this trade, I got in on the anticipation of a breakout.
I was close to max size on this and I liked the set up along with the overall market was super strong.
I did not chase the trade but I may have used the SPY's as a reason to get out instead of actually managing this position. I am still not sure if it's the right move to lighten as the SPY's were approaching the top of what I thought to be an intraday channel. I'll need to have more of these type of trades to be able to make sure that was the right thing to do. Ultimately I was able to sell most of my shares around my target price. I tried to hold to see if it would continue to go after the SPY's broke the top of the intraday channel but BIDU was stuck at the gap level.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-06-13 14:22:13 | BIDU | buy | $98.669 | long |
2013-06-13 15:22:44 | BIDU | sell | $99.600 | long |
2013-06-13 15:22:44 | BIDU | sell | $99.600 | long |
2013-06-13 15:33:46 | BIDU | sell | $99.410 | long |
2013-06-13 15:52:35 | BIDU | sell | $99.600 | long |
2013-06-13 15:52:35 | BIDU | sell | $99.600 | 0 |
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