Shared by
silverholden
I had this on my list, and noticed that it was creeping up at end of day since I was scanning my lists looking for something to trade. So right there you know I was bored and shouldn't have traded this. When it went green I chased it a bit, and set my stop at close from yesterday. Obviously a bad idea. Bad market, this was not going to have momentum into the close. Oh well.
EDIT: on review I see that if I was going to take this trade, I needed to enter on the break of the intraday flag, when higher highs crossed the trend of previous highs. I still think that in hindsight this is something I should not have entered.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-24 15:45:23 | ATHM | buy | $32.210 | long |
| 2014-01-24 15:46:27 | ATHM | sell | $31.970 | 0 |
Comments
silverholden
You know, that is an excellent question. I will need to get back into TC2000 and take a look and try to guess why unfortunately. My notes are not specific as to how I found it, but on Jan 14th I have a note to myself to buy on the break of a Bull flag. I have been watching it ever since. It certainly appears that I missed the break on that trend, which looks like was on the 15th, thus was waiting to see it bounce at this point. My plan was to take this into Monday as a swing. I think it will still bounce, so I will likely look on Monday and see if I can find an entry.
ejwolf1231_BOWS
It's happened to me a few times as well Mike. Get's late in the day, things are slow, you get bored and force a trade where there is no real set up and without a doubt every time it works against you. Try to figure out why you had this one your list to start out and then make note not to trade out of boredom or chase trades!
kt_mishra_BOWS
Sounds good, Mike! I was just wondering what you really saw on that daily that made you have this on your list. It may be gearing up for a bounce, like you say, and it looks like it has good range if it breaks out. But the pullback doesn't look clean to me. And imo, looking at the gap downs on some days I would think going swing is a little risky. But hey anything is possible, and if you're seeing something and have good reasons you should definitely play it.
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Mike, what made you have this on your list?