FENG Trade on Oct 28, 2013 09:49 from markmandy54_BOWS: Tradervue User Stock Trades.

Lost the 11 support on a gapdown. Waited for bear flag setup with falling MA's on top. Stop -.20, Targets +.40, +.50, +.60.
Concern: Daily Oversold after huge selloff from highs.
Lesson: Targets too conservative, need to leave a partial for the homer and trail stop as NEVER BREACHED THE FALLING 9EMA until hit +1.25.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-10-28 09:49:55	FENG	sell	$9.740	short
2013-10-28 10:06:59	FENG	buy	$9.340	short
2013-10-28 10:16:35	FENG	buy	$9.230	short
2013-10-28 10:25:21	FENG	buy	$9.140	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=FENG&trade=662352&end=20131127&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=FENG&trade=662352&end=20131028160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=FENG&trade=662352&end=20131028124021&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=FENG&trade=662352&end=20131028111321&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

RRJG_BoWs

2013-10-28 23:27:48

Great entry!

kt_mishra_BOWS

2013-10-29 00:53:50

nice trade!

bjstrade9_BOWS

2013-10-29 00:55:57

Nice entry, and you got the knew what happened with the exit. Good work Mark.

socar2001_BOWS

2013-10-29 01:14:30

great entry...nice sales up until that last one. why did you cover the last one so soon?

mirko_BOWS

2013-10-29 03:29:33

Good one Mark, too bad you did not leave some to ride it all the way down!

Nape_BOWS

2013-10-29 08:08:53

Aahhh have to scale out better.

markmandy54_BOWS

2013-10-29 08:15:50

On the daily there was a lot of support at 9 so my final exit was above that for the final R:R of 3:1. That was the only reason why. Should have left some on for the homer.

NickB_BOWS

2013-10-29 16:11:35

Nice Mark, what I try to do is wait for the momentum ticks to be hit.....00,.25,.50, 75 and look to cover or dump around those levels.
you got the crack at .50 and it never retested. Next look for the reach at the figure at 9.00, they will run these things to wash out stops before reversing.

Good set up to play and anticipation of the break down.

markmandy54_BOWS

2013-10-29 19:02:35

Great point Nick, i should have thought of that being in the MM's go stop hunting so leave some on for the the flush below 9. Another thing i keep forgetting live is the 9EMA and staying in as long as it's not violated, that would have yielded much more profits.

ckz8780

2013-11-04 23:15:48

!!!!! sick entry!

On the exits, just remember ... there is always a VNDA out there waiting for you: http://www.tradervue.com/shared/trades/650027

Keep in mind that while strong support can mean a bounce, it can also mean a huge tank if it cracks. The stronger the support that gives way the stronger the flush will be as there will be tons of stops under it and the stops triggering will cause more panic which causes more stops to be triggered, etc etc. If the stock doesn't immediately bounce off that strong support, there's a good chance it might faceplant like this one did. Volume was increasing on the way to support also. There was nothing but selling in it, so just let it rip!

kunal00

2013-11-04 23:20:32

faaack u almost had the trade... reasons to sell..sure u scale out a partial to pay urself but owe it to urself for the last 1/2 to see if its the big trade that u been waiting for all week..

all week we take these momentum setups to put ourselves in the positon for the big trade..when we are faced with its imperative we are sized correctly and we give it a chance to fullfill its destiny!

markmandy54_BOWS

2013-11-04 23:28:05

I know.........this one hurt (in a good way though as i picked the right vehicle this time) but didn't leave partial on like i've been really focusing on. Dope!!!

FENG Trade on Oct 28, 2013 09:49 from markmandy54_BOWS: Tradervue User Stock Trades.

Comments

Leave a comment about this trade!

Editor syntax