YY Trade on Sep 6, 2013 09:33 from NWJames2_BOWS: Tradervue User Stock Trades.

thought this stock would continue to run. think I should have rise my stop below each candle to reduce loss. Kunal, Is this pattern not valid?

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-09-06 09:33:11	YY	buy	$44.550	long
2013-09-06 09:33:11	YY	buy	$44.550	long
2013-09-06 09:33:11	YY	buy	$44.550	long
2013-09-06 09:35:03	YY	sell	$44.010	long
2013-09-06 09:35:03	YY	sell	$44.000	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=YY&trade=584403&end=20131006&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=YY&trade=584403&end=20130906160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=YY&trade=584403&end=20130906120503&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=YY&trade=584403&end=20130906100403&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

justduit_BOWS

2013-09-06 17:46:56

Hey,
I've seen this many times, personally. Seems like every time I chase a running stock that's too extended (like in this case from 43.1 to 44.5), it drops right after I buy it. If I watch on the sidelines, it continues to go. I think it boils down to haviing a good entry and your entry point doesn't look like a good intraday set up.
Just my .02 cents.

Nape_BOWS

2013-09-06 20:39:10

chase it with no setup

asistock_BOWS

2013-09-07 11:05:45

Can you provide more information regarding the charts you see to make entries ??
On gap-ups always wait for setups, before making entries....
If you watched the 5 minute chart, on intra-day there was no setup ..

On 1 minute chart, it actually shows u made a good entry (breaking highs) and a very good exit (falling of support.) -- u cut your losses, which is what Kunal stresses on.

My 0.02 cents. Will wait for the master to make his comments.

NWJames2_BOWS

2013-09-07 14:40:23

Yes, this was a continuation trade from previous day. Yes, it was based on trend in the 1 min trend on breakout. I like to find out if Kunal think this type of setup is low probability then I will stop trading it. thx

kunal00

2013-09-07 22:45:32

james i dont use 1minute charts! I do buy stocks at the open as an extension of our day long consolidation play but this was not a day long consoldation u just bought the open with no setup. a bit of this was luck too as u werent watching the market close neough.. it got hit with some syria news and everything tanked.

YY Trade on Sep 6, 2013 09:33 from NWJames2_BOWS: Tradervue User Stock Trades.

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