Shared by
E-Money
3/19/18
FB: Gapped down on the daily, supported by above-average relative volume and negative news. I looked on the daily chart and saw support around the $173-$174 level, resistance at $180. Those were my target prices.
9:39:29- Shorted 100 shares at $175.95, anticipating a pullback into resistance.
- Wanted to put a price slightly below the $176.00 figure passively (providing liquidity).
Placed my stop loss slightly above the pivot peak.
10:02- Placed a market order to trim a third of my position at $174.31 passively; tried to move my trailing stop to $175.62. Accidentally adjusted the market order and got out at $175.19.
- Need to make rules for re-entering a stock..
- Could have played the reversal at $170 level of support, after FB broke through my $173 target(whole number significant level).
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-03-19 09:39:29 | FB | sell | $175.950 | short |
| 2018-03-19 10:02:44 | FB | buy | $175.190 | 0 |
Comments
Mkatz_2478
you nailed the entry. you had right idea and on right side. how to exit a winner is very important. what are your rules for exiting this setup. you nailed the entry
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Need to get used to the percentage moves on stocks like FB