Shared by
EL_BOWS
Ugh. First buy as it broke above MA's/broke flag trendline. Drop and sell.
Second buy on confirmation of ftbo, sold partials into spikes but AWFUL management of the last piece. Didn't set a stop and the praying method didn't work.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-05 14:25:10 | DDD | buy | $64.530 | long |
| 2014-02-05 14:39:23 | DDD | sell | $63.930 | 0 |
| 2014-02-05 15:13:43 | DDD | buy | $64.890 | long |
| 2014-02-05 15:14:46 | DDD | sell | $65.200 | long |
| 2014-02-05 15:18:28 | DDD | sell | $65.490 | long |
| 2014-02-05 15:31:03 | DDD | buy | $64.010 | long |
| 2014-02-05 15:31:37 | DDD | sell | $64.090 | 0 |
Comments
BillySee_BOWS
Your 2nd trade was good. Again don't forget about price resistance just under $66.00 that's where it bounced, you were out anyway but price resistance in this case was a factor when considering how far this would most likely run.
I was in and out of $DDD today a lot also. Now as I look at these volume levels I thinking I was pissing in the wind all along. It's so easy to over look 1 or 2 crucial factors. Maribeth said last night "I good trader will consider everything". Let's make a pack that we will slow down consider every aspect of the trade prior to entering. Deal?
Nape_BOWS
The easy money was over in this stock. You needed to catch the first move in the morning or the 1st pullback play. Anything after that was not worth playing IMO.
EL_BOWS
@Nape: What do you play in the afternoon Nape?
@lhardesty: I am still trying to figure out the difference between when a stock is tired, and when it's going to rip all day. I watched NFLX last week with Kunal's "it's tired" motto -- ripped $20 with 3 great entries that I didn't take because of it. Today I tried something else, and it went the other way. One day I'll figure it out and let you know! :)
@BillySee: most stocks' volume looks like that from what I've seen: crazy in the morning and dwindling all day, unless it's challenging a level of resistance/support, or on a move (that happens WITH the volume). I use only volume, price, and two EMAs intraday. Price being most key, volume being secondary.
I try to find stocks that have a great setup on daily and intraday chart that have not had a big run up if long or big run down if short.
Look for the momentum stock with day long consolidation to break.
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I think these were good trys. Problem with late afternoons is stocks that have been moving all day are now seeing people take profits. Or .. as Kunal says... they get tired.