I missed the initial run up b/c I was focusing on $CHTP so when I pulled this one up to look at - I like the chart. I took a small position for 100 shares b/c I was short 2000 shares of $CHTP and wanted to be realistic in my position sizing. I was trying to spot a good entry as I missed it when it broke above $18.00 - got in at $18.14 and watched it slowly climb higher with only small dips. When it failed to break $18.90 I waited a bit longer for it to test again. It failed and I sold at $18.73. Another good trade for me as I'm gaining confidence in spotting better entries and also learning to be more patient & using my indicators.
Q. For review - was this too late of an entry point? At what point would you skip the trade after it broke over $18.00?
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-16 12:10:20 | GLOG | buy | $18.140 | long |
2014-01-16 13:13:30 | GLOG | sell | $18.730 | 0 |
Ya I completely agree. It was slow enough that I didn't feel overwhelmed watching it while also trading $CHTP.
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Nice buy point