TSN Trade on Aug 14, 2013 14:42 from johnc_BOWS: Tradervue User Stock Trades.

Assumption:
TSN was oversold on daily chart. On intraday, it was running up but seemed to lose steam after touching upper bollinger band. It moved under all supports and seemed to be on downtrend with 9ema acting as resistance. I also played a bit more cautiously to protect my profits.

Plan:
Buy on bear flag breakdown confirmation. Set stop just above 9ema.

Outcome:
The play was valid. Bear flag broke down and continued even after my exit. I got anxious to take profits while I had them, so I sold off even thought I didn't have any indication that the downtrend was reversing.

Lesson:
Allow the pattern to develop and move towards your target! It went into its downtrend without bouncing until 31.75. Since my stop loss was at about $32.14, my target should should have been around 31.80 or lower. I took a smaller position to play defensively but I didn't adjust my target to maximize profits. If I had set position size and followed proper stops and target, I could've netted $200+ on this trade.

Also, don't close unless you have good evidence that the pattern is reversing.