MTBC Trade on Apr 27, 2017 10:16 from tradertony: Tradervue User Stock Trades.

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tradertony

 

Ran up the prior day and then faded off, from 50 cents up to 1.50. Major extension on nothing. Closed near 1 and looked to be toast. Then they hit SSR in the morning and proceeded to rip this up in the morning into an upward halt. Now it was on everyone's radar, it banged around for a while and struggled, it then washed down to the 1.4 area where there was some support, I watched the wash and immediately recognized this as a chance to hop in long. I waited for it to show that it was holding that level, and any panics down got bought up higher and higher, I knew any shorts that got filled were sweating and the buying pressure was real. I took the position with risk just below that 5M panic low. There was never any real draw down and it ripped up to HOD just like I expected. What I wasnt prepared for was how weak it was at HOD. ONce it pushed up into the .70s it really struggled. My original target was .77 for 3R but I didn't stick to my rules and ended up taking the 2R trade. Another 5 to 10 minutes and I would have gotten my 3R and it would have been a stellar trade. Instead I broke my rules and left profits on the table, an entire R. Unacceptable. The trade idea was clearly there and the entry was spot on. My patience and trust in the play was lacking and it cost me. This is where I need to improve greatly.


Execution detail:

Date/time Symbol Side Price Position
2017-04-27 10:16:26 MTBC buy $1.470 long
2017-04-27 10:20:17 MTBC sell $1.670 0


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