INSM Trade on Sep 5, 2017 10:42 from JeffJeezy: Tradervue User Stock Trades.

I got here late because I was babysitting my opening play, but this was my 2nd plan of the day so I didn't just randomly pick this.

I had already drawn my levels and was looking for at LEAST a reatrce to golden if not 50 but I got in late and got stopped out shortly after.

Execution detail:

Date/time	Symbol	Side	Price	Position
2017-09-05 10:42:49	INSM	sell	$25.730	short
2017-09-05 10:56:10	INSM	buy	$26.080	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=INSM&trade=5973138&end=20170905160000&i=m60&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=INSM&trade=5973138&end=20171005&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=INSM&trade=5973138&end=20180202&i=w&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=INSM&trade=5973138&end=20170905105610&i=r&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

dmitry-ga

2017-09-06 05:54:02

i'd check the intraday ATR next time, there're ~1$ candles, so the expected retrace potentially was to the previous convergence level near 26.7. another point is that the 1st break down was similar to the one at the beginning, maybe it's better to go on the "2nd" break out

JeffJeezy

2017-09-06 07:26:16

Thanks for the feedback, much appreciated. Are you saying ignore PM and see what the new daily range is after an hour or so of the day has set in?

Because I believe the ATR was like .80 cents before this.

dmitry-ga

2017-09-06 15:28:23

what PM stands for?
I referred to daily candles range. this time the gap was huge and the stock didn't behave as usual. the stock made 3.5$ intraday move, so I'd expect volatility of that magnitude. E.g., that the stop at the point you bought should be around 26.76 (check weekly graph, i put this line according to week 9/21/2015)

JeffJeezy

2017-09-06 15:46:16

Thanks Dimitry. (PM=Pre Market) I think we are just getting technical words mixed up.

You originally said check the ATR....that is actually an average over many days (I believe 14 days) and this one had an ATR of .80 cents so the moment it gapped up like $17 dollars or whatever it was, its ATR kind of went out the window... at that point I'm looking for support levels from PM and retracements to FIBS bc I have no other data to go off of.

Jpark1676

2017-09-06 23:40:47

I'm not sure what your strategy is here. Couldn't you have set a short stop at around $26.56 and short the wash out? You can short it again around $25.45 for the move down. You can use less shares to keep a loose stop.

JeffJeezy

2017-09-07 00:09:06

JSpark thanks for the feedback.

All my trades have to be shut down by 11:30a. I start getting tight with my stops around 11ish. Although I don't get into detail here, I definitely do have a strategy at this time of day, heavier positions, tighter stops than the morning plays.

But you are right, normally that stop is too tight for someone letting this play out for the whole trading day.

INSM Trade on Sep 5, 2017 10:42 from JeffJeezy: Tradervue User Stock Trades.

Comments

Leave a comment about this trade!

Editor syntax