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markmandy54_BOWS
Daily looked good for Flat top B/O. Gapped up and got long (chased a little). Stop -.18 (under VWAP, 9MA and flag b/o). Target +.30 and thought it would run much more. Once started to roll over and loss VWAP and 9EMA on big selling volume, took off early -.08.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-09-10 09:54:14 | DXCM | buy | $27.830 | long |
| 2013-09-10 10:26:17 | DXCM | sell | $27.750 | 0 |
Comments
markmandy54_BOWS
Spy was grooving up. I think it's a good loss, but want the community to let me know if I'm missing anything.
justduit_BOWS
Did you get stopped out on 0.08 cents? Looking at the 5, maybe a stop below the previous red candles? It's currently at 27.97 so it is breaking flag pole.
To make things confusing, the 30 min chart's stochastics shows 90 at time of buy. I usually don't look at this, but I'm trying hard to find something : )
justduit_BOWS
sorry, re-read your notes. your stop was -0.18, and you bailed. stick to it and trust yourself and the patter next time? yah?
Justduit...love the name!
If i would have held my stop i would have still been stopped and got hit on max pain.
The amount of volume that came in as it broke support i bailed. I think it was the right thing to do, but still learning
Nape_BOWS
i think entry could have been better $27.75ish, but not a bad attempt imo
AnthonyC_BoWS
Mark, my opinion on this could be biased because of my previous bad performance with anticipatory breakouts. But here it is:
Your entry was pinned right up under daily resistance at 28. I'm finding the safer, more profitable plays, are happening when I wait for a break resistance followed by a sustained hold and coil above.
Good examples of this are:
EWW - on yesterday's chart (9/9). Check the 5-min around 10-10:20am (Eastern). Had just broken its daily resistance around the 63.60 mark and based/coiled there with a beautiful bull flag.
LITB - take a look at today's (9/10) 5-min chart. Gapped just over its resistance around 10.80 and held through the initial 15 minute frenzy. Little bit sloppier of a flag, but still gave time to enter. Even a subpar entry with a stop below open price is only a .25-.30 risk with plenty of upside.
I have had significantly more success with these types of setups as opposed to intradays anticipating the breakout. Support above your stops are much stronger and less likely to give way.
Here are two picks for tomorrow that could fit this setup - market sentiment permitting:
GRMN - if opens above 42.60 (without wild gapping) and can hold through initial few 5-min candles. Watch for coiling and buy with tight stop around 42.50
MET - if can get above 50 first, then coil and give time for entry, could be nice little additional run up with very little risk (tight stop just below 50).
Of course, both of these could be void with big red market open tomorrow.
Gena_BOWS
Your daily set up was great, imo! Looks really nice to have on your watch list. Maybe put your stops just below all 5min support MA's and also look at the low of the large green candle that popped the stock as a potential stop. And if you can't do a stop that big, might pass on entering the stock because of the risk it inherently has?
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man, u got three flags turn against you. sucks. maybe the market wasn't doing that good at time of buy?