Shared by
oly_BOWS
I can't get this shitty webapp to show the right 5 minute chart.
I picked 3.01 as a likely flag break spot on the daily. the price opened tightly near that level and as it hit 3.01 I bought in 4000 with a 5c stop. I actually got in at 3.00 even so even better
Price: 3.01 (3.00 actual)
Stop: 2.96
Target: 3.11
I saw it having trouble at 3.10 so I dumped half a touch early there. Then I let the rest ride and was hoping for 3.19, just shy of the flagpole top. That would also be a 20c run for the day which is a big run for this stock. Instead, it started folding over and I finally closed out at 3.06. I like this one, worked out well for me even though it didn't run all day. I was also very picky and this was the only trade I made for the day.
See here for a non-tvue borked chart:
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-09-17 09:32:19 | DRYS | buy | $3.000 | long |
| 2013-09-17 10:16:44 | DRYS | sell | $3.100 | long |
| 2013-09-22 11:44:04 | DRYS | sell | $3.060 | 0 |
Comments
Nape_BOWS
Very nice setup for a swing.. You could have got a lot more off of this if you wanted to.
oly_BOWS
I can't swing on the historic engine, it's too flakey. I tried it once.
But If I swung this, would I put the stop around 2.80? 20c stop targetting 40-60c based on the flagpole?
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Nice entry. Amazing how this reinforces to let partials run for the big gains.