Shared by
EL_BOWS
First entry on break of bear flag / ftbd. A little slow on the entry. Cover full position on round over.
Second entry on break of prev low / MA pushdown. Entry was slow, but still valid. Re-shorted on confirmation of bear flag break down. Covered into spike and then rest at EOD.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-23 13:38:21 | TEL | sell | $59.410 | short |
| 2014-01-23 14:02:14 | TEL | buy | $59.320 | 0 |
| 2014-01-23 14:27:01 | TEL | sell | $59.210 | short |
| 2014-01-23 14:44:23 | TEL | sell | $59.130 | short |
| 2014-01-23 14:52:17 | TEL | buy | $59.040 | short |
| 2014-01-23 15:49:56 | TEL | buy | $59.020 | short |
| 2014-01-23 15:55:25 | TEL | buy | $59.110 | 0 |
Comments
EL_BOWS
It facepunched me yesterday a few times, so I had to get some back. Er, I mean, so it was on my list.
kunal00
guys 10 cents on a 50 dollar stock is the spread. this to me is a scratch trade and a lot of overtrading here.
there is no setup on daily so if ur trying to this this it has to be at the perfect stock. the lower u go and chase it the higher the odds are that ur gonna get ripped to the upside as in momo stocks dips get bought .
60 bucks or 59.80 max . no other levels here make sense
kunal00
and MARK u owe him better feed back then saying NICE short for a 10 cent gain.
EL--- u got this. ur knowledge is solid. ur work ethic is commendable.
Always ask urself. is this worth it? say it aloud when u trade . Is this in my best interests? Is this a grade A setup.
I struggle with this too quite a bit my whole career. Asking myself these questions help.
markmandy54_BOWS
You're right Kunal.
EL, what i mean is i like the fact it was a trend down day with the MA's suppressing price. Your entry was ok, however chased a tad. That 59.50 would have been a great entry right as it triple tapped down giving you a stop of -.20 (which would coincide with most recent lower high AND falling 20EMA). Your original cover was premature as it's normal wiggle room to retest the falling 9EMA but due to low volume bounce it was indicative of rolling back over (just some normal shorts harvesting profits). Your 2nd cover was great as it was just above a whole number and gave you around +.50 of target keeping your R:R around 2.5 to 1.
Kunal -- I've added those questions to a sticky on my monitor; good questions, and something I'm struggling with (you see that I'm an overtrader so far).
Mark -- thanks for the extra feedback. The 59.50 would've been better for sure, but I just couldn't pull the trigger because of other trades that were going wrong. Emotions got ahead of logic. I love the way you think in R:R all the time, I have to get back to incorporating it ahead of my "max loss" thinking that seems to have crept in.
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Nice short, good find.