Shared by
johnc_BOWS
Should have held on to last 1/4 shares for the home run. I sold off too quickly and it kept rising.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-16 10:48:43 | YELP | buy | $48.980 | long |
| 2013-08-16 10:48:43 | YELP | buy | $48.980 | long |
| 2013-08-16 10:48:43 | YELP | buy | $48.980 | long |
| 2013-08-16 10:48:43 | YELP | buy | $48.980 | long |
| 2013-08-16 10:49:28 | YELP | sell | $48.952 | long |
| 2013-08-16 10:49:29 | YELP | sell | $48.960 | 0 |
| 2013-08-16 10:50:31 | YELP | buy | $48.870 | long |
| 2013-08-16 10:50:31 | YELP | buy | $48.870 | long |
| 2013-08-16 10:50:31 | YELP | buy | $48.870 | long |
| 2013-08-16 10:50:31 | YELP | buy | $48.870 | long |
| 2013-08-16 10:50:31 | YELP | buy | $48.870 | long |
| 2013-08-16 10:50:31 | YELP | buy | $48.870 | long |
| 2013-08-16 10:52:50 | YELP | sell | $49.030 | long |
| 2013-08-16 10:52:50 | YELP | sell | $49.040 | long |
| 2013-08-16 10:52:50 | YELP | sell | $49.050 | long |
| 2013-08-16 10:56:26 | YELP | sell | $49.100 | long |
| 2013-08-16 10:56:26 | YELP | sell | $49.100 | long |
| 2013-08-16 10:56:34 | YELP | sell | $49.100 | 0 |
Comments
johnc_BOWS
Can you explain, Mark? It seemed like the 9ema PB was still valid when I entered. If you look at the other candles during the day, YELP had been holding 9ema, so my assumption that it would hold at my entry seems valid.
In addition, volume started to coming up to the intraday average pretty quickly when I got in, so I assumed it would hold. I got a much better R:R entering at 9ema (with a relatively tight stop right under) than if I had waited later. In my eyes, if it broke 9ema, my assumption would have been invalid and I would've hit my stop and lost $50 in hopes of gaining $100+
markmandy54_BOWS
No i can't explain. I have no idea what i was thinking, other then i must have wrote in this window what i meant in a different window....or i must have been ripped that night...either way my comment makes no sense. This looks like a great P/B trade (although a little extended) and just need to work on leaving the last part on to get that runner.
Right on Mark. Thanks for all your comments, btw. Yeah I completely agree. Not sure why I exited so quickly on this trade.
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Not sure what the setup was here as P/B started but rolled right over (only to hold but where you entered you didn't know that yet). In my eyes this is not a positive reinforcement trade.