Shared by
dpaleo
Tags:
great patience cancelling a couple offers above $75 after that little pause below. 1 left side entry then waiting for turn is great job and allowed me to nail this stress free.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2023-03-07 09:47:12 | SE | -100 | $76.570 | -100 |
| 2023-03-07 09:51:40 | SE | -100 | $77.085 | -200 |
| 2023-03-07 09:52:16 | SE | -50 | $76.910 | -250 |
| 2023-03-07 09:55:59 | SE | 50 | $75.850 | -200 |
| 2023-03-07 09:58:47 | SE | 100 | $75.570 | -100 |
| 2023-03-07 10:01:21 | SE | 50 | $75.170 | -50 |
| 2023-03-07 10:09:47 | SE | 50 | $74.050 | 0 |
Comments
dpaleo
Hey Andy - great trade by you!
And you're right thats exactly how I played it. As for the first front side entry, it depends. If it would gone non-stop and extended into $80 then i'm holding and adding into $80, but if it slows down and turns into a grind then i m taking the small loss and waiting for a short signal. Saying that, I do usually have an "UNCLE" PnL level where I will exit to reset.
AndyBhanver3
Thank you for the breakdown Dpaleo, yes that makes sense, thank you for specifying what you would do if we continued to rip aggressively or if we slowly grinded higher, how you would trade it.
Rodrig
Hi Dpaleo,
Could you explain what is an "UNCLE" Pnl level?
thx
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Hey dpaleo, nice move here, I was long off 71 and scaled out up into 73 here, quite unexpected here for me to see this continue to rip, I was thinking of a short here as this just ripped 10% right off the $70 hold. - I understand how you add as it rolls over and put the stop at the highs is how I would play it, Wider risk on first entry since you plan to add on backside / or on a more convinced top out, - Please correct me if I had missed something <---- But was curious on your stop loss for the first lot at 76.5 if we did continue to rip higher lets say towards 80 without a pullback?