ALGN Trade on Sep 5, 2013 14:32 from MouthyMermaid: Tradervue User Stock Trades.

Should have waited for more of an intraday flag setup or let it pass as previous flag had already broken out. Gave back gains on sell price. Not my favorite trade of the day, as I saw the action stalling right around where it topped out and knew I should have sold. Couldn't decide if it was resting and getting ready to go again or not.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-09-05 14:32:15	ALGN	buy	$44.970	long
2013-09-05 15:01:27	ALGN	sell	$45.060	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=ALGN&trade=583795&end=20131005&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=ALGN&trade=583795&end=20130905160000&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=ALGN&trade=583795&end=20130905152127&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

Nape_BOWS

2013-09-05 18:58:25

bit of a chase on entry

MouthyMermaid

2013-09-05 19:37:38

Thanks for taking time to comment, Nape!

gregr

2013-09-05 19:48:15

It looks to me like you probably got in at near the best price possible after you knew it broke 44.90. Nape, if you look at the volume traded on the 1-min, I bet it went from 44.90 to 44.99 in just a couple of prints.

Of course you could have bought the bottom of the consolidation - but if your plan was to buy the breakout, I don't think you can beat yourself up too much...

Nape_BOWS

2013-09-05 20:17:18

@gregr
Heavy resistance was @ $44.80-89.. so the entry should have been $44.90.

Nape_BOWS

2013-09-05 20:19:05

@gregr
you would have got in right near the 9ema and that would have limit your risk and maximize the reward.

gregr

2013-09-05 20:21:16

Well, another perspective would be that it touched .89 several times without breaking through - so one could make a good argument for waiting for it to hold above .90 before entering.

Anyway, neither here nor there...just saying there is more than one way to look at this particular trade.

MouthyMermaid

2013-09-05 20:27:23

I had both of your perspectives in mind when looking at this. Just wasn't quick enough to get in at .90 area; used volume to confirm that it looked like a runner. Wouldn't have chased it quite so much, otherwise.

Thanks for your thoughts, guys! Much appreciated.

gregr

2013-09-05 20:29:23

And to add to the above, when it printed .90, it looks like it did it on <1000 shares - hard to have a lot of confidence in that if you're looking for a momentum breakout.

Nape_BOWS

2013-09-05 20:40:16

@gregr
But the reason why you would enter at .90 is because there is so much price support to hold you up, so therefore that gives you a better cushion and limits risk.

kunal00

2013-09-07 23:20:48

9 cents too high..

ALGN Trade on Sep 5, 2013 14:32 from MouthyMermaid: Tradervue User Stock Trades.

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