Shared by
markmandy54_BOWS
Daily P/B flag, 30 min day long flag, intraday R2G. Stop -.40, Target +1, +2 and was really looking to swing this off the daily. Ran +.80 so moved stop up to +.20 under the new higher lows. Market flushed and got hit!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-12-17 09:47:26 | CSIQ | buy | $29.200 | long |
| 2013-12-17 10:50:02 | CSIQ | sell | $29.480 | 0 |
Comments
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Hmmm... not quite sure I understand your play. It was a great entry for swing, but you chased a bit for daytrade. But your exit seems off entirely.
For daytrade, it went up nearly a dollar! I would've personally had my stop at 28.60 because I'm a pussy. Scale out 1/2 at that first reversal or when it wouldn't break 30.00.... That's like $40-60 on 100 or more shares.
For swing, I still would've set my stop at LOD and wouldn't have gotten stopped out. The market didn't tank.... it looks like it pulled back to a major support level (i.e. opening wick and previous day's HOD).
My guess is that you got nervous when you saw that base break. I would suggest sticking to your trading checklist. If it's a daytrade, then scale out. If it's a swing, set an alert at major price levels and forget about it.