BIDU Trade on Feb 5, 2014 09:55 from Markmandy54: Tradervue User Stock Trades.

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Markmandy54

 

Great find intraday. Great bear flag, chased entry just a tad but only risking -.50 to make +1, +2, and +3 for targets. Ran +1 but never filled me even though T&S showed fills below my price...wierd. Where i made the mistake was i allowed my previous 3 losses from today effect this trade so i moved my stop up WAY TO QUICK and got stopped for a tiny gain.

If i had stuck to my plan AGAIN, all targets were hit.

NOTE TO SELF: TRADE YOUR PLAN, FORGET YOUR LAST TRADE/S.


Execution detail:

Date/time Symbol Side Price Position
2014-02-05 09:55:21 BIDU sell $153.150 short
2014-02-05 10:02:03 BIDU buy $152.970 0


Comments

2014-02-05 11:47:22
 

You're right... entry was a bit of a chase. Tough day today, no wonder you traded conservatively and exited at around break even.

2014-02-05 15:44:07
 

great idea! looks like you pulled a Phil with that stop. LOL.

2014-02-05 15:45:24
 

Totally micro managed this one and shot my own foot, lol.

2014-02-05 18:45:04
 

a bit of a chase but I see it as confirmation especially when you are dealing with LOD. Otherwise, your thesis was correct.

2014-02-05 22:17:01
 

Pretty good entry (I like that you waited for confirmation before entering). You should have set a partial cover at the expected resistance just above 152. That was the expected resistance area from the day before. To make it easy, I usually set an auto cover price near that resistance area, then when it hits, I lower my stop accordingly. Maaaan, if you had done that, you could have ridden it down to the next expected price resistances at 151 and then 150.

2014-02-09 15:42:40
 

Patience patience patience! Your entry was perfect. Stop too tight IMO and that reduced probability and probably made you a bit squeamish. If you had taken a smaller position w/ a larger stop you might have been more inclined to let this sucker run for 5 bucks a share. Remember the daily chart - not uncommon at all for it to move $10 a share in a single day, so it had huge potential. Perfect entry and like you said you just micromanaged it. Sick idea at least! You'll get it next time!

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