Shared by
Rashod81_BOWS
I'm learning to recognize prime opportunities for entries on a pullback. The entry presented here would have actually made me think that the lay was no longer valid. After I closed for a loss I didn't think there was a point in even watching it because I thought the setup broke down.
That fine line I tell ya.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-12 10:28:29 | OPTT | buy | $3.760 | long |
| 2014-02-12 10:28:33 | OPTT | buy | $3.770 | long |
| 2014-02-12 10:28:35 | OPTT | buy | $3.770 | long |
| 2014-02-12 10:28:35 | OPTT | buy | $3.770 | long |
| 2014-02-12 10:32:28 | OPTT | sell | $3.680 | long |
| 2014-02-12 10:32:28 | OPTT | sell | $3.680 | 0 |
Comments
Rashod81_BOWS
That's the hard part for me. With things moving so quick I'm very hesitant to waste my time on a stock that isn't going along with the program. Once I see my ideal setup breakdown I cut it lose and move on to the next one.
Sayed
Yup. Good stuff man of that bounce EMA 60.
silverholden
Man I bought this on the next flag, and got stopped out just like this.
BillySee_BOWS
Gentleman, Please Help Me Out. Reviewing trades has been a major help for me, so please don't misconstrue this as anything other than a request for help. I just can not see the set up that y'all are talking about at 10:28 am.
Sayed, Damn I feel stupid. I had no idea to use a 60 DMA on a 5 minute intraday chart. I added it to see the bounce off it that you pointed out.
Mike W., I'm also wondering which flag your referring to that you took and got stopped out right away? I left out a possible entry between A & B, sorry.
I've included a chart below only because I was able to add indicators.
I appreciate any and all help I can get from y'all.
Thanks guy's, being able to discuss trades with you is priceless, and Sayed I'm honored to be able to converse with, and learn from you.
http://screencast.com/t/T1ZRa0b5qk
Billy, the flag that I was in is maybe a little messy to be called a flag, but it is at 11:00 or so on the 5 minute chart. The dip around 11:30 is where I was stopped out.
No Mike, I think that's a really nice entry. It really SUCKS that you got stopped out on that 1 candle that barely broke the 20EMA, other wise you ride this thing to 2:30 ish and another .50-.60 cent gain.
Damn, Bro that is something that gets me all the time. Kunal is always speaking of price support, I keep forgetting about price support, and focusing solely on ma support. I'm glad we discussed this though, this a habit that I've got to put an immediate stop to. It's 1 of at least 2 things that is costly me substantial profit.
Thank you for your response.
http://screencast.com/t/fH8NqksWEo
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Nice selection yet again. So ya got stopped, keep that puppy up on the radar and jump back in as soon as your thesis is in play again.