Shared by
JoJoTrades
+$1,003 net W
: +3.3%
: 8 minutes
:
HUGE gap up on this classic China Junk past runner type...playing the bounce after fade, hoping for some crazy rip/squeeze, given how these things have been blowing lately. 1st boucne didn't hit target; Added after a dump candle, then exited for $1,000 bill. sketchy...
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-11-22 09:40:10 | CLNT | buy | $9.200 | long |
| 2017-11-22 09:41:23 | CLNT | buy | $8.931 | long |
| 2017-11-22 09:45:09 | CLNT | buy | $8.463 | long |
| 2017-11-22 09:46:08 | CLNT | buy | $8.535 | long |
| 2017-11-22 09:48:11 | CLNT | sell | $9.150 | 0 |
Comments
JoJoTrades
@alhadi249 - that huge dump candle is the kind of thing I'm looking for for entry right after!! lol, but yeah this trade was sketchy for sure....
GB_Chicago
Very risky play from my point of view! It looks like you trade the Pn/L since i dont see any technical pattern at the time of the entry and averaging to a loosing postion. This could easily go even lower, with that type of stock and momentum. What's your win ratio on that type of play? What did you see to enter the trade? Being down 1k and making 1k , the strategy doesnt look sustainable. Dont get caught in the Pn/L results, rather in the strategy, because that will make much more money on the long run.
@GB_Chicago yes sir AM scalping big morning movers can certainly be high risk and is definitely not for eveyrone, by any means. the pattern is obvious to me -- its scalp bounce based on overdoing of dump, etc. also have to be there reading/watching the tape to see the strength start to flow in and then strike. could absolutely go lower, so it was a sketchy play no doubt (as I said).
win ratio for these types of morning AM scalps is 90%. of course the losing 10% can end with horrors if keep buying more LOL.
also imo PnL is the real stuff. paper trades and super low size trades and the such are w/e. people can play perfect strategies all they want, but you have to have the real $$$ and risk involved to make the trade real ((lol @ Paper Trades). I am often looking to gain a "$1,000 bill" in my scalps, but the trade size/entry/exit isn't random - my entries, size, and targets are calculated based on a targeted $$ gain amount, etc.
there are several types of trading out there.... contrarian AM scalping on big morning movers in the first 60 minutes is sketchy and not for most people based on the types of trading rules they have learned, no doubt. but its definitely an area which can be learned, combined with watching the Tape... just need to learn how & when to actually take the Loss beofre it gets crazy lol :P
If your win rate is that great , and you make money 90% of the time in this plays then GREAT! I use tape reading, technical, fundamental and ive done this type of plays many times. Best entries for me me on this ones, if playing for scalps, is in the direction of the momentum on 5min (at the open) and using 1 min candles for entries and tape reading for best price execution.
Trying to pick top or bottoms, being a contrarian is not working for me, I blow up an account doing so. Execute your plan flawles id doing so. Keep it up the hard work!
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
nice job bro' i don't know how held past that bearish candle