Shared by
markmandy54_BOWS
Daily nice bear flag. Missed 1st short entry so put limit on backtest of resistance. Stop -.75, Target +1 and more. Thought stop was in but ended up having 3 plays at 1 time and stop wasn't on so just took off for loss to obey max pain. Took off at terrible place as 5 minutes later gave short again. WHY NOT RETAKE SHORT?
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-12-09 09:41:30 | FSLR | sell | $57.750 | short |
| 2013-12-09 09:54:48 | FSLR | buy | $58.180 | 0 |
Comments
markmandy54_BOWS
Exactly Nape, no confirmation. In review i like the idea but need to be patient to wait for confirmation. My cover is where i should have initiated the short. Love that bear flag on daily. Butchered the intraday entry.
kunal00
mmmm not bad..u had it..just in reverse thats ok..the idea was right ur thinkning the right way just a mismatch of execution
Ya, i believe my mistake was simply not waiting for confirmation of backtest rejection.
johnc_BOWS
Ahhh I see where you were going here on the 30min chart. My Tradervue data shows that I'm not doing very well with early morning trades lately. I think my best trades have been the ones with at least a 3-candle base on the 5-minute chart.
Might be a good idea to check out your Tradervue reports to see what time you're trading best.
I love hindsight as it's so obvious what i should have done after the fact. Right idea, wrong timing, as the position is up +3 right now but i see what i need to tweak and i love it that it's clear.
I'm so glad you point that out John as i just started to understand how to utilize that info about a month ago and from 9-11 (6-8 for us west coasters) is when all my trades take place.
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Not seeing what made you short right there without confirmation?