BLOX Trade on Sep 6, 2013 10:47 from johnc_BOWS: Tradervue User Stock Trades.

Assumption:
Earnings gapper. Looked for entry intraday.

Play:
Although I'm not super confident using red-to-green plays yet, I saw a great opportunity here. Bought it at confirmation of R2G, with a stop a few cents below the point where it goes red (39.45 or so).

Outcome:
R2G worked out well. Scaled out in 1/3s instead of 1/2s since I thought the stock may run throughout the day. I exited completely when it broke the 20ema, which turned out to be a natural PB spot.

Lessons and Mistakes:
My biggest sticking point is that I'm not holding on for the homerun play. I feel like I do this because I've limited myself to smaller positions, which limits my profits when I scale out (since I'd lose a good amount of it from commissions).

Also, I've gotten into the habit of playing most stocks as scalps. I need to get used to holding on to them and monitoring them closely, only exiting when they violate support.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-09-06 10:47:53	BLOX	buy	$39.560	long
2013-09-06 10:47:54	BLOX	buy	$39.560	long
2013-09-06 10:47:54	BLOX	buy	$39.560	long
2013-09-06 11:01:38	BLOX	sell	$39.950	long
2013-09-06 11:11:09	BLOX	sell	$40.230	long
2013-09-06 11:25:57	BLOX	buy	$39.830	long
2013-09-06 11:27:57	BLOX	buy	$39.830	long
2013-09-06 11:39:25	BLOX	sell	$40.310	long
2013-09-06 11:41:01	BLOX	sell	$40.430	long
2013-09-06 11:56:31	BLOX	sell	$40.000	0
2013-09-06 14:41:20	BLOX	sell	$40.680	short
2013-09-06 14:41:20	BLOX	sell	$40.680	short
2013-09-06 14:46:22	BLOX	buy	$40.830	short
2013-09-06 14:46:22	BLOX	buy	$40.830	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=BLOX&trade=589710&end=20131006&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=BLOX&trade=589710&end=20130906160000&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=BLOX&trade=589710&end=20130906160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=BLOX&trade=589710&end=20140203&i=w&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

markmandy54_BOWS

2013-09-10 08:27:55

I don't see the R2G setup as this thing gapped up and was positive from previous day's close all day.

I think you chased entry.

johnc_BOWS

2013-09-10 22:20:30

I re-read the coursebook, and you're right-- this isn't a proper R2G. (You learn something new everyday) Either way, I set my stop just below the opening price. It moved with a lot of momentum and I got away with it in the end.

BLOX Trade on Sep 6, 2013 10:47 from johnc_BOWS: Tradervue User Stock Trades.

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