CRM Trade on Sep 10, 2013 10:02 from markmandy54_BOWS: Tradervue User Stock Trades.

Gap up and held. Long off P/B. Stop -.15 (under 9EMA and the Flag trendline). Target +.30, +.50. Initial spike missed my limit by .02 and rolled. Huge selling volume came in so bailed early as it should have run.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-09-10 10:02:35	CRM	buy	$49.660	long
2013-09-10 10:09:55	CRM	sell	$49.600	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=CRM&trade=590647&end=20131010&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=CRM&trade=590647&end=20130910160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=CRM&trade=590647&end=20130910123955&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=CRM&trade=590647&end=20130910110755&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

Nape_BOWS

2013-09-10 13:27:02

ahh gotta take some off on the pop

markmandy54_BOWS

2013-09-10 13:29:03

Had my limit set going off 30 min resistance and missed fill by. 02

AnthonyC_BoWS

2013-09-10 19:06:27

Good entry and idea. Exit needed to happen right away with spike, however. Price moved right up under heavy resistance and an even number (six pennies short) . Gotta be Johnny on the Spot with this play. Remember that resistance/support is an area, not a number.

markmandy54_BOWS

2013-09-10 19:21:34

Ya, thought it would catch on the limit but missed. Thank you for the feedback as confirms the setup and reinforces good loss.

Gena_BOWS

2013-09-11 07:53:45

This was a tricky one yesterday. I also played CRM but overnight for a swing. I ended up getting stopped out at .50 and then of course it went up the rest of the day. I agree with Tony - was too quick to get rid of it when it was really just consolidating at support levels

johnc_BOWS

2013-09-16 23:04:56

I feel like your setup would've worked if the market was more forgiving. Based on advice I've gotten from Maribeth and Kunal, I've been setting slightly lower targets until the market heals.

Wes_BOWS

2013-09-17 01:30:20

I learned on a few of my trades when I was trying to scale out that it helps to shoot a few pennies (of course, this depends on actual cost/share) short of target. Gives just a little buffer room, at least until I get better at reading the charts. I'd rather have a successful play and know that it was the right setup and I played it right (entry & exit) and miss a couple $$ profit than to think I missed the whole thing trying to squeeze the last few drops out of it.

More of a mental game, I guess, but I'm one that likes compliments, lol...

markmandy54_BOWS

2013-09-17 09:52:21

I totally agree Wes, i'm looking to become an amazing trader, not pinching pennies for small gains.

CRM Trade on Sep 10, 2013 10:02 from markmandy54_BOWS: Tradervue User Stock Trades.

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