FNSR Trade on Jun 7, 2017 10:15 from igetmoney_03: Tradervue User Stock Trades.

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igetmoney_03

 

Trade: I shorted the lod breakdown at 10:15. There was weakness so I shorted.

TP: My thought process in this trade was simple. The stock had a weak price action at lod, so I decided to short it. I was expecting the stock to retest the lod, but it never got up to 26.60. The trade went against me by .07 so I was not very concerned at first. Then all of a sudden the stock fell .15. I covered at the bottom and felt happy about the trade at the time.

Improvement: What the hell is wrong with you? Why don't you follow the game plan? If this was half size then you should be patient to wait on pops. The stock was looking very weak even at 10:30 AM; you should have shorted the pops to $26.50. The stock was not moving ahead of that $26.50 area. You could have recognized this, and added to your short.
Another way to execute: Let's say you did want to take the .15 in profits. That is absolutely fine. Don't just move onto another play. Keep eyeing the stock for other potential entries. When the stock moved back to $26.50, you could have re-entered the trade with 1/2 size and added to the position with good r/r.
It is key to understand that the stock was moving in increments of .04, so the spread was wide. The stock also did not have a lot of range, so you should have used much more size. It is important to understand these things prior to entering a trade.


Execution detail:

Date/time Symbol Side Price Position
2017-06-07 10:15:00 FNSR sell $26.430 short
2017-06-07 10:30:00 FNSR buy $26.275 0


Comments

2017-06-11 12:30:43
 

Whole/half dollar marks are key; it perfectly retested 26.50 (which is where I think would have been the ideal entry) before it actually went to test 26. Chasing the 26.50 breakdown (before re-testing 26.50) could have easily reveresed back to stop you out. Because you were initially underwater in this trade, you were more likely to cover into the first washout instead of waiting for the 26 test

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