$TNDM had a strong move the day before. With the weak open, I used the previous $10.75 resistance turned support level as a guide to entry. Since this was the 1st trade of the day, I went extra small figuring that I'd give this to $10.50s. With the big green bar, I decided to add a bit more and tightened up my stop. As price pushed through $11, I took some off at $11.1 and moved my stop to break even, with my plan being to ride this up towards $12. Unfortunately, I got stopped out on a wick down to my entry.
Something that I need to be mindful of is that anytime I take 1st profits (typically 1/2 of my position), I'm moving my stop up to break even on the remaining shares. If I take my 1st profits too early, that also means that I'm moving my stop to break even too early. In this case, I wouldve been stopped out on my remaining shares regardless, but this is just something to think about.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-05-15 09:32:00 | TNDM | buy | $10.870 | long |
2018-05-15 09:32:33 | TNDM | buy | $10.890 | long |
2018-05-15 09:33:37 | TNDM | sell | $11.100 | long |
2018-05-15 09:34:24 | TNDM | sell | $10.850 | 0 |
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!