Shared by
johnc_BOWS
I entered at 13.72 as a mistake-- was looking for limit order at 13.67 just above 9ema. I bought again at 13.67 to average out. It looked like it had JCP had been respecting the 9ema so I put a hard stop just below it at 13.65. Scaled out on the way up.
Re-entered when it hit 9ema again at 13.72 with another hard stop under support. Scalped that sucker just in time before it pulled right back to 9 ema.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-08 14:46:22 | JCP | buy | $13.720 | long |
| 2013-08-08 14:51:15 | JCP | buy | $13.670 | long |
| 2013-08-08 15:09:28 | JCP | sell | $13.770 | long |
| 2013-08-08 15:13:16 | JCP | sell | $13.820 | long |
| 2013-08-08 15:17:24 | JCP | sell | $13.780 | 0 |
| 2013-08-08 15:22:12 | JCP | buy | $13.720 | long |
| 2013-08-08 15:32:37 | JCP | sell | $13.820 | long |
| 2013-08-08 15:35:58 | JCP | sell | $13.950 | 0 |
Comments
johnc_BOWS
Can you explain what you mean by "cleaner setups"? I felt like my biggest mistake was my first entry. Otherwise, it hadn't broken support and it was respecting the 9ema so I felt like expecting a bounce was fine, especially considering my tight stop.
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Not bad, but you need to wait for cleaner setups.