SHOP Trade on Apr 12, 2017 11:42 from sometrader: Tradervue User Stock Trades.

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sometrader

 

Trade Plan:

Risk (cents): ------------------ 65
Risk (absolute, USD): ---------- 65
Average Price: ----------------- 69.53
Stop Price: -------------------- 70.13
Target Price: ------------------ 64
Reward to Risk (cents): -------- 550 / 65
Reward to Risk (factor): ------- 7 / 1

Things well done: -------------- Put a hard stop
Mistake(s): -------------------- 
 - Added to a position too soon before locking in profits. So, initial risk doubled later.
 - Did not lock the profit around 68ish
Lesson(s): --------------------- If added to a position (in a winner, not looser) and price starts to go against you, put a stop loss at your initial entry to sell/cover the added position in order to come back to the initial risk. Let's split a total trading idea into few: initial one and when we added to a position. So, at first confirm that our second idea is wrong. 
So, for the current case, should have put a stop loss at 69.53 to cover 100 shares.

Execution detail:

Date/time Symbol Side Price Position
2017-04-12 11:42:02 SHOP sell $69.530 short
2017-04-12 13:53:56 SHOP sell $69.410 short
2017-04-13 09:52:59 SHOP buy $70.285 0


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