Shared by
Boston
Over traded this stock. Had 3 entries and 3 losses. I saw a pullback for my first entry but the stock wasn't behaving how I wanted it to. The first loss was an ok, I followed my rules, but then the second loss was because my stop was too tight. I should have put it behind the low of the lowest wick on the pullback. The 3 entry was a flat top bull flag that was not a good trade. It looked really appealing on the 1 min chart, but on the 5 min chart, the stock looked over extended and too far away from the MAs and VWAP.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-03-29 09:41:30 | VRTX | buy | $109.620 | long |
| 2017-03-29 09:43:15 | VRTX | sell | $109.280 | 0 |
| 2017-03-29 09:46:05 | VRTX | buy | $109.740 | long |
| 2017-03-29 09:49:12 | VRTX | sell | $109.170 | 0 |
| 2017-03-29 10:01:39 | VRTX | buy | $111.090 | long |
| 2017-03-29 10:03:27 | VRTX | buy | $111.500 | long |
| 2017-03-29 10:08:26 | VRTX | sell | $110.300 | 0 |
Comments
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You should try trading with less shares to increase your stop loss so that it's not too tight. It happens though and what's important is that you followed your rules.