Shared by
EL_BOWS
I have GOT to learn at some point. I haven't done the analysis, but if I didn't get stopped out to the penny on, diggity, who knows how many trades, I'm guessing I'd have rather different overall stats.
Hit this hard on the dead cat bounce with the 9EMA riding overhead. Stopped out to the penny. At least I didn't give up on it and got in later. Back in as it fell, taking pieces along the way. Of course, I came back in with less volume, so the gain hardly matched the loss. Then at the end of the day, tried for a ftbd scalp, but it didn't move.
BOWS: You've got to have seen people have this behavior before, right? I KNOW I should just take smaller positions, but the setup looks so good, and the "gotta get it back" when you're down attitude seems to prevail. Then as it keeps rising, I lose confidence, and let myself get stopped out. When I decide to move the stop, more often than not, it just results in a max-loss violation. WTH.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-24 13:50:13 | TEL | sell | $58.110 | short |
| 2014-01-24 13:53:37 | TEL | buy | $58.200 | 0 |
| 2014-01-24 14:05:02 | TEL | sell | $57.990 | short |
| 2014-01-24 14:44:54 | TEL | buy | $57.740 | short |
| 2014-01-24 15:07:02 | TEL | buy | $57.480 | 0 |
| 2014-01-24 15:38:30 | TEL | sell | $57.370 | short |
| 2014-01-24 15:55:11 | TEL | buy | $57.430 | 0 |
Comments
jmoscate_BOWS
Sayed
Don't take that 9 EMA literally to the pennies. 9/20 was meant for a guide or road map. Just because price hit 9EMA for 1 candle, u don't stop out ! Good thing is u shorted back.
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Maybe try being more patient and waiting for a candle for confirmation on a smaller timeframe. You might not get the very best entry but at least you won't get stopped out unless the thesis is completely wrong. This is just a suggestion as I am a newbie.