Shared by
johnc_BOWS
Shares traded: 1000
Closed P&L: $-62.45
Assumption:
Intraday flag breakout around 18.96. NQ respecting 9ema
Plan:
Buy in anticipation of it, with a stop just under 9ema.
Outcome:
Got stopped out as NQ broke just under 9ema.
Lesson:
NQ was bouncing 3-4 cents below 9ema. Next time, set stop around 3-4 cents below 9ema and adjust position accordingly.
More importantly, to get a better R:R ratio, I could've just waited until NQ got closer 9ema, allowing me to take a bigger position, set a lower stop loss. Anticipate a pullback as the bottom range of the intraday flag touched 9ema.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-13 13:07:33 | NQ | buy | $18.900 | long |
| 2013-08-13 13:07:33 | NQ | buy | $18.900 | long |
| 2013-08-13 13:07:34 | NQ | buy | $18.900 | long |
| 2013-08-13 13:07:37 | NQ | buy | $18.890 | long |
| 2013-08-13 13:07:37 | NQ | buy | $18.900 | long |
| 2013-08-13 13:08:15 | NQ | sell | $18.773 | 0 |
Comments
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Technically shouldn't have been shaken out of this until later on that dip. But even though stopped, the breakout came so re-entry would have been the way to go. I notice my stops are too tight too a lot of the time but i need to force myself to re-enter once it sets up again. I'd rather be stopped pre-maturely only to re-enter on a winner then too loose of a stop and get hit on the losers that roll.