Shared by
silverholden
I had this on my watchlist for a flag break. When I was alerted that it broke the trend line I had on the flag, I entered. My initial target was 5.50, but this stock is near all time highs so I figured it has more room to run. I set my stop at 5.20, which was supported by MA on 5 minute and 9 ema and VWAP on 30 minute chart.
Big problem with this trade is that I had no setup on the intraday charts. Looking back, I'm not sure why I didn't see that, as I was looking at those charts for support levels. Also I was looking too close in on support for a swing play. Realistic level would have been 5.00 on the 30 minute chart I think.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-06 10:41:59 | TXMD | buy | $5.300 | long |
| 2014-01-06 10:43:36 | TXMD | buy | $5.280 | long |
| 2014-01-06 10:44:53 | TXMD | buy | $5.280 | long |
| 2014-01-06 10:44:53 | TXMD | buy | $5.280 | long |
| 2014-01-06 10:44:53 | TXMD | buy | $5.280 | long |
| 2014-01-06 10:45:12 | TXMD | buy | $5.320 | long |
| 2014-01-06 11:21:04 | TXMD | sell | $5.200 | long |
| 2014-01-06 11:21:04 | TXMD | sell | $5.200 | long |
| 2014-01-06 11:21:04 | TXMD | sell | $5.200 | long |
| 2014-01-06 11:21:04 | TXMD | sell | $5.200 | long |
| 2014-01-06 11:21:04 | TXMD | sell | $5.200 | long |
| 2014-01-06 11:21:04 | TXMD | sell | $5.200 | long |
| 2014-01-06 11:21:04 | TXMD | sell | $5.200 | 0 |
Comments
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Look at the volume pattern in the 5min intraday chart. Stock does not move clean. Low volume stock are not easy to day trade. You have to stick with stocks with momentum.