Shared by
silverholden
I was watching this for continuation of yesterday's drop. I was watching it on the 2 minute chart at open, and was wanting the third candle but missed my entry. I still got an ok entry as it was dumping at open. Trailed my stop down, should have kept it tighter and also scaled some out. Unfortunately this was a wash for me in the end. Ironically it acted almost exactly as I had expected, I just did not play it well once it didn't get down to my target. I wanted 20ish, should have seen the previous support and had a plan for it. Also should have covered once I had a couple of green candles.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-05 09:38:30 | GDOT | sell | $20.790 | short |
| 2014-02-05 10:56:24 | GDOT | buy | $20.800 | 0 |
Comments
Gena_BOWS
The daily shows strong price support from last October, around the 20.50 area, so you were shorting near a support area (unless you were going for a quick scalp). But if you were going for a quick scalp, then I guess you would have set your cover around that 20.50 support area!
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Entry was a chase, so why not cover some shares into the flush.