Daily: earnings breakout, gapped up to new high
Intraday: ORB
I took my first entry on the ORB (a little earlier than the actual breakout). It moved like a tank. I took 3/4 off near $60 as I thought that was a major level. Then I regret because it didn't seem to care about $60 level. I jumped back in and scaled out into spikes.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-05-25 09:51:47 | BBY | buy | $57.430 | long |
2017-05-25 09:52:57 | BBY | buy | $57.530 | long |
2017-05-25 11:31:59 | BBY | sell | $59.900 | long |
2017-05-25 13:01:31 | BBY | buy | $60.460 | long |
2017-05-25 13:33:47 | BBY | sell | $61.300 | long |
2017-05-25 14:42:04 | BBY | sell | $61.940 | 0 |
I had a great entry but how do you trail your stops? Do you just use a trend line until it breaks or what method to know when the move might be over? I got out after like .40c
I trailed my stop under a green candle low or 2-3 candle lows if the candles were tiny. If there were unexpected big drops or 9 EMA break, I would have been more active with the scale outs.
If you have a problem with taking too small profits, it's best to take partial and trail just a small part for potential bigger move.
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Picture perfect that one!
Nice trade!