Shared by
EL_BOWS
I should not be in this stock. Period.
Buy was on what looked like a flag break as it broke above the MAs. It's amazing how different it looks depending on the dimensions of your chart. Zoomed in as it was happening, this flag looks really pretty. On this view it looks like a maniac.
Sat through some rough times and sold at target. Scaled out as it rounded down in elevators.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-13 11:33:07 | ICPT | buy | $372.550 | long |
| 2014-02-13 13:42:43 | ICPT | sell | $375.640 | long |
| 2014-02-13 14:07:53 | ICPT | sell | $374.180 | long |
| 2014-02-13 14:13:17 | ICPT | sell | $371.740 | 0 |
Comments
EL_BOWS
hahah, gotta hate it when you make somebody say "HOT DAMN" on your entry -- if it were in reverse!
The trick was that I entered with 100 shares, and the spread is sometimes over $0.50 in this stock. Completely unacceptable/impossible when going for $100ish max loss. I let it ride a bit, but was unhappy with myself for doing so (broke my max loss and I knew it).
PHILnomenal
Don't let it get you get you down. Just fix it and stick to your plan. That being said, i break my max loss steady so i should be doing the same thing i'm telling you to do. LOL.
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At first i thought you shorted this right near high and i was all like, hot damn what a frickin short!! haha
I see where you were going with this, nice little gain. "sat through some rough times"...i'm assuming you mean the 1.50 drop. Just remember though that your position size on a $370 stock should be scaled appropriately so even a $2 drop is an acceptable stop limit. So if you only have 50 shares it's only a $100 dollar loss, same as 1000 shares with a 10 cent loss. (well....you get the math, i don't need to explain it to you).