CYTR was flagging right before the market open and it was also gapping up. I took the chance when it broke the flag right at the open. So I broke the w candle rule that Kunal preaches but I thought the flag break was my confirmation... Clearly, if I waited until the second candle, it would have been a good ORB play...
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-12-11 09:30:54 | CYTR | buy | $3.930 | long |
2013-12-11 09:30:54 | CYTR | buy | $3.930 | long |
2013-12-11 09:31:38 | CYTR | sell | $3.750 | 0 |
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I've had to make a rule to not trade the first 10-15 minutes....as most times i lose.