Shared by
markmandy54_BOWS
Daily looked heavy, 30 min a little extended to me, however intraday could not get above resistance. Stop -.25, Target +.50, +1. Appeared to be flagging under that intraday resistance so bailed the trade plan and took off for small loss.
LESSON: PLAN WAS CORRECT, STOP NEVER HIT, BOTH TARGETS HIT! Let the plan workout.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-11-19 10:38:59 | CREE | sell | $55.300 | short |
| 2013-11-19 11:06:55 | CREE | buy | $55.380 | 0 |
Comments
bbman
almost had it. not my style to catch deadcat bounces, but I see your reasoning. Should have hit that again later in the day
markmandy54_BOWS
It never hit my stop. I rationalized taking it off early therefore skewing my R:R. I should have stuck to my thesis and let the trade tell me if right or wrong.
charlesk_BOWS
let it ride, your plan was correct!
but I can see why you got scared at the first 55.5 jump and thought it was going back the second time.
bjstrade9_BOWS
Cmon Mark, you can afford, 9cents. haha
Shit, I have done this to myself on more than one occasion. Tough break.
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Broke support @ $55.25 and we missed it. i would have waited for a second entry, a dead cat bounce. you got in a little early, next time wait for confirmation, maybe a red candle.