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EL_BOWS
Ah, my worst trade to this point in my career. Entered in flag, which was okay, with an okay size. Added to position WAY too heavily because it broke the quick flag to new highs and I was hoping for a scalp. Instead it immediately reversed and dropped like a rock. Horrible trade management and I lost more than TRIPLE my max loss because it happened so fast.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-17 10:16:00 | FEYE | buy | $74.660 | long |
| 2014-01-17 10:16:55 | FEYE | buy | $74.940 | long |
| 2014-01-17 10:18:55 | FEYE | sell | $74.160 | 0 |
Comments
BenRodts_BOWS
Agree with above comment. Should have nailed this for short.
EL_BOWS
When I entered, the stock was extended on the daily and intraday for sure, but I was looking at it and it was consolidating into what looked like a pretty nice flag. The stock was running and it's not uncommon to see stocks run for 3-4 days, so based on what I was seeing, I figured long (given that the morning was so strong). What's the feature of this (minus hindsight) that makes it a short versus a long, when so often, stocks that are extended just keep on pushing?
...keeping in mind that most of the trading on that big red candle on the flag break was completed when it broke the flag to the upside.
silverholden
I will agree here with the first comment. Not that it couldn't have been a long, if you had played that earlier quick pull to the 9 EMA around 9:50 you would have had a few bucks out of it. The trick is that because of the daily it is a much higher risk factor. If it were me, and I was determined to take this as a long, I would have wanted a very tight stop and possibly only half a position. Another thing, when it continued a bit sideways after you stopped out, you could have shorted when it broke the bottom of that flag (basically your previous stop point).
kunal00
INTRADAY MEANS NOTHING! THE OVERALL PICTURE OF THE STOCK IS KEY. SHORT SHORT SHORT RUBBERBAND! WHERE U BOUGHT JUST FLIP IT AND GO SHORT AND U GOT MONEEEEEEEY
Nape_BOWS
Have to be thinking parabolic short...http://screencast.com/t/A2PmgwHeZ
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I see what you were trying to do. Besides your own comments, I'd add that this stock is REALLY extended on both the daily and the intraday. Definitely a "short" setup... but I know all about hindsight. ;)