MGAM Trade on Jul 31, 2013 10:10 from oly_BOWS: Tradervue User Stock Trades.

I was looking for a continuation of the big move it had yesterday.

Stop: 34.35
Target: 35.17 and watch how it behaves around 35 and that level

A few things bother me about this trade. Particularly, the volume was fairly quiet so I was lucky I got a move. I also note the R:R is a little less than 2 at the previous day high, though I had hoped to leave some on for a longer run.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-07-31 10:10:48	MGAM	buy	$34.630	long
2013-07-31 11:46:02	MGAM	sell	$34.990	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=MGAM&trade=534158&end=20130830&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=MGAM&trade=534158&end=20130731134602&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

AnthonyC_BoWS

2013-08-04 17:08:26

Good entry and exit, looking back in hindsight. Clean executions like this seem to forgive a little less R:R than hoping for.

I'm curious. What was your reasoning for exiting when you did? Was still holding both 9EMA and 20SMA. Even looked like it may have been coiling for another breakout. Was it the thinking that the 35 mark was going to be a battleground for the major traders and not worth the risk? Worked out well, for sure. Perhaps I can learn from this.

oly_BOWS

2013-08-05 00:34:18

Mostly it just started to feel funny. I was also expecting it might stall out around 35 since it's a round number. When I saw it stalling right about 35.05 I decided to play it safe.

I also am in a crazy time zone so while I might stay up for a trade that is running, this one was looking shakier and it was 12:45 am here. So luck was a big part of it.

MGAM Trade on Jul 31, 2013 10:10 from oly_BOWS: Tradervue User Stock Trades.

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