Shared by
silverholden
I was watching LOGI from my pre-market breakout scan. This has been moving slowly down the 9 EMA throughout the day after the initial run up. I thought I was looking at a day long consolidation type of play, and when it broke the MA's and popped up I bought in. Unfortunately it immediately dropped back down briefly though all the MA's and stopped me out. One issue I see is that I caught this late, if I had caught on the first candle that was clear of the MA's my stop would have been lower, and I would not have been stopped out. This ended up running a bit, although not as much as I had thought it might.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-23 14:41:36 | LOGI | buy | $16.180 | long |
| 2014-01-23 14:44:05 | LOGI | sell | $16.090 | 0 |
Comments
silverholden
Thanks Billy, that is very helpful. It was very low volume. I probably should have taken a smaller size and wider stop (if I were to play this). Really I shouldn't have been trading by this point. My goal for today was no more than 6 trades unless I had a really good reason, and I really blew that number away. By this point I was just trying to find anything that would move.
kunal00
this daily chart is happy looks like an ADR so it probably only trades overnight really and thats where its movements are
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http://screencast.com/t/z38q6KGgQL $LOGI This chart I included is zoomed in for a clearer look at the pattern, and volume.
I think the problem was not enough relative volume in the breakout you played. That being said if I was going to enter around the time you did, I probably would have entered where you did since the volume was 80,100 shares vs 35,900 shares at the 1st candle over the ma's. Consider the volume in the 1st breakout at 10:30, it's 235,300 shares. Considering that I would have avoided this trade (Of course hind sight is 20/20).
* Make any sense? I'd like to be clear in that "I'm a Rookie, a Green Horn, other wise known as a slow learning knuckle head." I have found working through these things is a fantastic way to learn, so please let me know your thoughts.