Shared by
johnc_BOWS
Shares traded: 1000
Closed P&L: $-69.42
Assumption and Play:
Thought it was bear flagging. Sold it at the top of the bear flag, thinking it would spike down when it hit the 9ema. Set a stop just above 9ema.
Outcome:
Got stopped out.
Lesson:
Set looser stop and take smaller position. It did eventually tank. My max loss is $100, so it made no sense to sell so quickly, considering I had only lost $70 at that point.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-16 13:44:14 | OSIR | sell | $20.090 | short |
| 2013-08-16 13:45:39 | OSIR | sell | $19.980 | short |
| 2013-08-16 13:45:39 | OSIR | sell | $19.980 | short |
| 2013-08-16 13:45:43 | OSIR | sell | $19.980 | short |
| 2013-08-16 13:45:47 | OSIR | sell | $19.970 | short |
| 2013-08-16 13:50:38 | OSIR | buy | $20.130 | short |
| 2013-08-16 13:50:38 | OSIR | buy | $20.130 | short |
| 2013-08-16 13:50:39 | OSIR | buy | $20.130 | short |
| 2013-08-16 13:50:39 | OSIR | buy | $20.130 | short |
| 2013-08-16 13:51:25 | OSIR | buy | $20.174 | 0 |
Comments
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Actually did present a bear flag. Extended so tougher short as no real clear stop with price. Remember MA's are "ish" stops or targets. I think it's fine you stopped out, but when the bear flag got tighter and still presented opportunity...and now with a clear stop by price, re short it!