Shared by
johnc_BOWS
Assumption:
Flat top breakout on the daily chart. Market had a lot of action, with SPX beginning to recover. Looked to enter during a consolidation point.
Play:
1st entry - PB to 9.00 and 9ema
2nd entry - Intraday flag
Outcome:
1st entry - It went up but failed. Hung on until it hit my stop.
2nd entry - Sold half at first target (around 18 cents). Raised my stop here and let it develop, but it didn't go much higher.
Lessons and Mistakes:
1st entry was OK, these things happen. Not sure if I could've predicted that the PB would be bigger.
2nd entry - I should've kept an eye on this. It broke a few levels of support, and I could've sold off sooner.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-09-05 10:25:58 | BEAT | buy | $9.014 | long |
| 2013-09-05 10:29:09 | BEAT | buy | $9.040 | long |
| 2013-09-05 10:30:20 | BEAT | buy | $9.040 | long |
| 2013-09-05 10:30:20 | BEAT | buy | $9.040 | long |
| 2013-09-05 10:30:20 | BEAT | buy | $9.040 | long |
| 2013-09-05 11:04:23 | BEAT | sell | $8.960 | long |
| 2013-09-05 11:04:42 | BEAT | sell | $8.970 | long |
| 2013-09-05 11:04:42 | BEAT | sell | $8.969 | long |
| 2013-09-05 11:04:43 | BEAT | sell | $8.970 | long |
| 2013-09-05 11:04:43 | BEAT | sell | $8.970 | long |
| 2013-09-05 11:04:43 | BEAT | sell | $8.970 | long |
| 2013-09-05 11:04:43 | BEAT | sell | $8.970 | long |
| 2013-09-05 11:04:43 | BEAT | sell | $8.970 | 0 |
| 2013-09-05 11:16:21 | BEAT | buy | $9.020 | long |
| 2013-09-05 11:17:06 | BEAT | buy | $9.020 | long |
| 2013-09-05 11:17:06 | BEAT | buy | $9.020 | long |
| 2013-09-05 11:17:12 | BEAT | buy | $9.020 | long |
| 2013-09-05 11:17:12 | BEAT | buy | $9.020 | long |
| 2013-09-05 11:17:12 | BEAT | buy | $9.020 | long |
| 2013-09-05 13:21:50 | BEAT | sell | $9.190 | long |
| 2013-09-05 13:21:50 | BEAT | sell | $9.190 | long |
| 2013-09-05 13:59:52 | BEAT | sell | $9.230 | long |
| 2013-09-05 14:04:56 | BEAT | sell | $9.220 | long |
| 2013-09-05 15:22:12 | BEAT | sell | $9.210 | long |
| 2013-09-05 15:22:12 | BEAT | sell | $9.213 | 0 |
Comments
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1st entry jumped the gun as still in pattern but great job getting out.
2nd entry dead on, nice job!!! Great job taking profits and raising stop, text book!