Shared by
BScripter_BOWS
Bought in when it broke over the VWAP as I was waiting for confirmation of where it was going since my previous trades weren't working for me. Definitely chased this one and should've bought closer to the 9 EMA but my other trades psyched me out as it was not going my way this morning.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-13 09:50:43 | RCON | buy | $6.110 | long |
| 2014-02-13 10:23:22 | RCON | sell | $5.880 | 0 |
Comments
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Even if it did work it carried with it a $0.30 - $0.40 risk. So unless you were expecting to make 2 - 3X that it wasn't worth it.
If you feel like you missed out on a move, instead of chasing just keep your eye on it to see when/ if it provides a less riskier entry. The main thing is not to nail every big move in a trade, it's to enter at a level that provides minimum risk with profit potential. Always keep risk management first on the list of priorities, even above profits!