Shared by
johnc_BOWS
Shares traded: 1600
Closed P&L: $91.37
Assumptions:
BEAT was respecting the 9ema.
On the daily chart, it should run up because of flag.
Plan:
Buy the intraday flag with a stop just under 20ema.
Outcome:
Bought at 8.19 in anticipation of flag breakout. Let it develop until apparent downward inflection point at 1:03EST. Not sure why I took such a small position, considering that my stop was less than 10 cents away, at lowest MA.
Lesson and Mistakes:
Next time, scale out. Could have held for another 5 cents at 8.35. Also, stock was getting somewhat extended here, so target expectation couldn't be very high.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-13 12:26:45 | BEAT | buy | $8.190 | long |
| 2013-08-13 12:26:52 | BEAT | buy | $8.190 | long |
| 2013-08-13 12:27:17 | BEAT | buy | $8.190 | long |
| 2013-08-13 13:03:19 | BEAT | sell | $8.300 | long |
| 2013-08-13 13:03:19 | BEAT | sell | $8.305 | 0 |
Comments
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Nice job, great entry on break above highs, nice job taking profits.