Shared by
markmandy54_BOWS
Gapped up into 30 min resistance. Short the drip lower. Stop -.75, Targets +2, +3.5, +5. As Target 1 and 2 hit, moved stop to +1 which was a mistake. i put stop at a magnet P/B place which coincided under resistance AND VWAP. Mindset should have been to add back with size at that place.
The other mistake i made was i didn't take a big enough position size based on my risk acceptance. i was too conservative and should have doubled my size to coincide with my max pain tolerance per trade.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-10-10 09:41:57 | TSLA | sell | $173.950 | short |
| 2013-10-10 09:57:42 | TSLA | buy | $171.680 | short |
| 2013-10-10 10:13:28 | TSLA | buy | $170.550 | short |
| 2013-10-10 10:28:24 | TSLA | buy | $172.800 | 0 |
Comments
bjstrade9_BOWS
Hey Hey Mark, this was a great trade and I seen you tried for the gap fill which a nice move. left a bit of profit on the table, but its nice to have some shares incase of the gap fill.
Nape_BOWS
markmandy54_BOWS
BJ - Part of my strategy is to leave on a small position (1/4 or 1/5) to swing with a stop around B/E. Several times it won't work out and exit flat, other times i'm able to catch the week, month, or year long move for the macro picture. Typically it works better on longs then shorts but every once in awhile get a homer. I caught GOOG back in July/Aug for just under 50 points. Those feel great when they work out and allows for almost a no risk trade.
Beth - i've grown to like TOS much better then etrade platform. You can do bracket (OCO) orders. I typically when short will put a limit buy for a stop and a limit buy for a cover at targets and it doesn't go off until the price is breached. On the side of each chart are tabs, i click on the AT i think it is and you can pick your price.
bethomas47_BOWS
Hey that's cool - never paid any attention to the AT tab.
Thanks
Do you have real time data or delayed still?
Wes says he called and got them to do real time for him.
Its always been real time for me, i've had an account with them for years so it's never been an issue.
ckz8780
Perfect, man! It filled the gap perfectly back to yesterday's support. You gave a little back but who cares? I gave $2/share back on GMCR the other day and still made like $500. Haha take what you can get, run, and onto the next. Nice trade.
kunal00
this short entry i like the breakdown of a flag on a weird gap like that is very high probabltity
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Hey Mark that's great.
If I am short something on TOW I haven't figured how to buy without closing my short position. Maybe it isn't possible??