Shared by
iStryker_BOWS
So this stock had a symmetric triangle. Kunal went long, I went short as it was riding the bottom of the triangle looking to break 57. It did, but couldn't break 56.90. Covered then went short again after it couldn't break the top. Cover when it broke it but it quickly came back inside. When it was riding the top of the triangle, went long, thinking it was going to explode.
It the end the play came right after the triangle was squeeze completely. I was mad at myself so I didn't take any trade. Kunal shorted it perfectly @ 57.00
P&L: -143.00
For each leg I took a $100 risk. I don't know if this was good or not. (First short, then short, then long).
This trade almost stop me from trading today. Mostly out of frustration. This made my day P&L: -$300. I found much better trades in the afternoon for an end day of $991.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-11-14 11:01:20 | SCTY | sell | $56.940 | short |
| 2013-11-14 11:02:18 | SCTY | sell | $57.060 | short |
| 2013-11-14 11:10:25 | SCTY | buy | $57.300 | 0 |
| 2013-11-14 11:10:36 | SCTY | sell | $57.210 | short |
| 2013-11-14 11:16:42 | SCTY | buy | $57.400 | 0 |
| 2013-11-14 11:16:59 | SCTY | buy | $57.420 | long |
| 2013-11-14 11:29:54 | SCTY | sell | $57.440 | 0 |
Comments
bjstrade9_BOWS
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!
Ah man, just a tad early but entry at the time looked great.