Shared by
oly_BOWS
On the daily, FOSL had been flagging on a gap up. It seemed to be breaking the flag in the morning, so I waited for a pullback. I saw a pullback to below the 20 and got in when it resumed the trend.
Entry 121.09
Stop 120.85
Unfortunately it reversed again quick and took me out. I also sized this wrong and lost more than $200 on the trade.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-12 10:26:04 | FOSL | buy | $121.140 | long |
| 2013-08-12 10:32:49 | FOSL | sell | $120.850 | 0 |
Comments
kunal00
it was too steep of a pullback bar. see how its big candles on the pullback best pb's are more orderly
markmandy54_BOWS
Great point Kunal, totally missed that even though i know to look for that. Good reinforcement of what to look for, and now that you pointed it out looks so obvious!
oly_BOWS
@kunal00 cool thanks for pointing that out! Looks so clear now in hindsight, I'll try and make that a habit.
@mark yeah, actually more a fault of not bagging good enough wins. My stop loss is $200 so this is over, but really need to be doing better with the wins. I have a lot of trades where I pull 2:1 on the first half but the 2nd gets out at scratch.
freak candle the day before on the 5 min was probably also a sign for caution
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You've been nailing these P/B entries and great job bailing so quickly when it doesn't bounce. Your loss on this seems somewhat comparable to your gains so you may want to take smaller size to keep your R:R in check with the minimum of 2:1.