Daily too extended, should not have taken this play regardless of intraday. Max pain hit.
LESSON: STICK TO CHECKLIST, DID NOT MEET DAILY SETUP CRITERIA
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-11-27 10:44:28 | AMZN | buy | $385.740 | long |
2013-11-27 10:51:58 | AMZN | sell | $385.080 | 0 |
Daniel, here's what i thought was a flag:
http://imgur.com/Lcin4nR
yeah i see that, but to me its not really a flag, to me is more of a pullback to the 9ema/VWAP that didn't hold. take a look. http://screencast.com/t/8nYA5vVM
Yep, and there lies the problem, whatever i think i'm seeing ain't working.
In review this should have been a pass regardless.
Thank you for posting that pic as i see what you're talking about.
No problem brother, keep training that eye
Hey bud, I think it's more important to review why you felt like you had to take this trade more than the actual result of it. I've seen people on Tradervue make $300+ on poorly executed trades and people congratulate them, "Good job!" etc.
Looking at the chart you put up on imgur, I like your idea behind the trade: you took it on the apparent break of flag trendline. However, the trendlines you drew weren't clean. Also, I've found that other traders will more often respect the trendlines drawn from the highs/lows of the wicks rather than candle bodies. Obviously I'm still a noob so I could be wrong on this.
JC, you could be right on the T/L. In regards to my checklist, i'm finding that when i stick to that list, they more then not move as anticipated, when they don't meet the criteria, it does seem like a lower probable move in my favor....i found that interesting.
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I dont see a flag here bro, if anything i would have been watching this for a pull back play.