Shared by
rrace11_BOWS
Entered at $10.10 at market open then sold right away at 10.13 because I broke my rule of waiting for a setup to enter when its not earnings or pr. Then continued to just make a series of bad decisions, including entering again with no setup, hanging on past my stop point hoping that it would bounce back off price support, finally sold when it broke beneath it.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-09-17 09:35:09 | RMTI | buy | $10.100 | long |
| 2013-09-17 09:35:09 | RMTI | buy | $10.100 | long |
| 2013-09-17 09:35:09 | RMTI | buy | $10.100 | long |
| 2013-09-17 09:35:09 | RMTI | buy | $10.100 | long |
| 2013-09-17 09:35:09 | RMTI | buy | $10.100 | long |
| 2013-09-17 09:35:09 | RMTI | buy | $10.100 | long |
| 2013-09-17 09:35:09 | RMTI | buy | $10.100 | long |
| 2013-09-17 09:35:09 | RMTI | buy | $10.100 | long |
| 2013-09-17 09:46:11 | RMTI | sell | $10.130 | long |
| 2013-09-17 09:46:11 | RMTI | sell | $10.130 | long |
| 2013-09-17 09:46:13 | RMTI | sell | $10.130 | long |
| 2013-09-17 09:46:13 | RMTI | sell | $10.140 | long |
| 2013-09-17 09:46:13 | RMTI | sell | $10.130 | 0 |
| 2013-09-17 09:55:13 | RMTI | buy | $10.380 | long |
| 2013-09-17 11:06:41 | RMTI | sell | $9.870 | long |
| 2013-09-17 11:06:42 | RMTI | sell | $9.880 | long |
| 2013-09-17 11:06:42 | RMTI | sell | $9.870 | long |
| 2013-09-17 11:06:42 | RMTI | sell | $9.880 | long |
| 2013-09-17 11:06:48 | RMTI | sell | $9.890 | long |
| 2013-09-17 11:06:48 | RMTI | sell | $9.890 | long |
| 2013-09-17 11:06:48 | RMTI | sell | $9.890 | long |
| 2013-09-17 11:06:49 | RMTI | sell | $9.890 | long |
| 2013-09-17 11:07:37 | RMTI | sell | $9.875 | 0 |
Comments
johnc_BOWS
There are a LOT of rules and routines to remember. While you're starting out, I would recommend creating a step-by-step checklist that you force yourself to follow before entering ANY stock.
AnthonyC_BoWS
The previous day's candle should be a big red flag for this stock today. Strong reversal signal with the bearish candle (shooting star) piercing the Bollinger Band made it an unlikely candidate for a runner. It also closed below strong resistance around the 10.50 mark.
The second entry also was directly under this resistance. Most of the intraday indicators were hovering just above as well. Was gonna be extremely tough for this stock to break through under current conditions.
A good time to keep an eye on this stock in the future would be if we get the bounce around the 8.8 - 8.9 mark.
Keep up the hard work and don't let today bring you down, R!
Anthony you just taught me a new term, thanks!
Other types of bearish patterns:
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:candlestick_bearish_
rrace11_BOWS
Thanks for the feedback guys! I was seduced by madness on this trade. Watching it run up .40, minutes after I sold it, put me in a tailspin and all logic was disregarded for hope and justification. I'm going to be on the bench with my friend Mark tomorrow and review the trading checklist and read about Abandoned Baby Bears and Doji Evening Stars!!!
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You already know what to change, good job. Even with a bad entry, stop should have been under 10.20 as that was the bounce place from opening consolidation.