Shared by
E-Money
4/11/17
FB
Initial trade in FB was to the short side, although it did work for a while after using my RR setup, it started to show a lot of strength as it broke the downward trend line. I took it off for a profit.
The wrong move was getting back in immediately, fearing that the buying was a shake out. I decided to hold my new position and keep my original stop loss above $165.
Best thing to do was to wait instead of getting back in. If there is no clear picture of what is going on, it is better to sit on my hands and wait for a signal.
When FB broke the high of the day, I had FOMO and wanted to join, fearing that it would continue to go up. Should have waited for a pullback to $167 support...
Drawing a trendline connecting the lows to 2:30 pm would have given me another signal to take profits if I went long around 1:30-2:00 pm.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-04-11 09:47:17 | FB | sell | $164.960 | short |
| 2018-04-11 09:47:17 | FB | sell | $164.960 | short |
| 2018-04-11 10:12:52 | FB | buy | $164.420 | 0 |
| 2018-04-11 10:14:56 | FB | sell | $163.960 | short |
| 2018-04-11 10:14:56 | FB | sell | $163.960 | short |
| 2018-04-11 10:14:56 | FB | sell | $163.960 | short |
| 2018-04-11 11:41:59 | FB | buy | $165.370 | 0 |
| 2018-04-11 13:20:53 | FB | buy | $167.740 | long |
| 2018-04-11 13:22:48 | FB | sell | $167.790 | 0 |
| 2018-04-11 13:25:03 | FB | buy | $168.090 | long |
| 2018-04-11 13:26:49 | FB | sell | $167.870 | 0 |
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