Shared by
markmandy54_BOWS
Daily Gap up with volume over highs and holding $5 area. Long w/ Stop at new lows (-.15), Target +.45 as this thing could run. $SPY started getting smacked and this rolled stopping me out max pain.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-07 09:46:49 | PXLW | buy | $5.050 | long |
| 2013-08-07 09:59:16 | PXLW | sell | $4.900 | 0 |
Comments
AnthonyC_BoWS
Tough day for longs in general. Only one stock on my hotlist is in the green.
markmandy54_BOWS
That's why the most important thing i've learned is managing risk.
Wes_BOWS
You did well on managing the risk. That in itself is the important part of the play.
I put my losing trades into 2 categories, a good loss and a bad loss. Good loss is when the plan is clear, i stick to it, and take the loss, and believe it or not, i enjoy taking that loss as i beat my emotions. It's when i take a bad loss, either no stop or don't honor stop or no clear plan that is a bad loss. Trying to COMPLETELY eliminate my bad loss category as a trader.
^^ Good way to look at it! That way you are still rewarding yourself even if you're not 'rewarding' your trading account.
kunal00
just didnt work... it needed to break 5.00 and hold good thing too it faded all day
shindigBOWS
Long opening wick on the red candle, signaled a short set up to me.
Good exit, before losses!
So many gap up, consolidation or small P/B and then rips. Once lost consol i bailed...but should have taken that short for sure.
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Looks like a solid trade to me, it just didn't pop. I don't think there is much more you could have done. Good entry and good stop. I'm interested in what others, who are more experienced then myself, will have to say.