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Feb 14, 2014 14:18


flag ftbo ma-underneath max-loss-violation paper to-the-penny waited-for-confirmation worst-trade

In the hundreds of trades I've made, this is hopefully rock bottom. I actually don't mind the entries: first entry on ftbo. Got stopped out at the bottom. Got back in as it curled up tighter and tighter with MAs underneath. Too many shares taken, went to washroom and got a drink, came back, realized I didn't have a stop set, and it had tanked. One trade like this is days of profit lost.

Execution detail:

Date/time Symbol Side Price Position
2014-02-14 14:18:01 NUGT buy $50.730 long
2014-02-14 14:34:39 NUGT sell $50.560 0
2014-02-14 14:59:04 NUGT buy $50.870 long
2014-02-14 15:14:59 NUGT sell $50.390 0


2014-02-14 17:12:42

Those actually look like great entries to me, just didn't work. If it hurt you then sizing is too large.

2014-02-15 16:50:30

Agree the entry looks good on your 1st one - it was right above ma's and right on VWAP - quick look back to the early morning bounce would show resistance level at $51.10 - that would be a target for me to sell.

2nd entry I would have been watching to see if it breaks out (double/triple top's & breaks out for a confirmed long or fails and use that as my short signal - however that wouldn't make a clear indicator for a short as the VWAP was still underneath that price level.)

Either ways it's hard to trade when you're in the washroom or grabbing a tasty beverage. LOL - we've all done it at one time or another....

2014-02-15 20:04:35

I hope you were grabbing a frosty one or something strong on ice!!! I commend you for playing these 3x leverage guys. I don't know if these 'guys' follow the same set of rules as the momo stocks we play or not. Other than that you had a great first entry!!!

2014-02-17 11:02:43

@Mark -- you nailed it, my sizing was way too big on the 2nd entry. It was a revenge trade: I was stopped out to the penny on the first entry in the stock, so I decided to "get it back" (decided is perhaps not the word to use when you're talking about emotional decision) by taking thrice as much as I should.

@JJ -- My first target was 51.13, one penny above the high. It was a $0.40 reward target but still below the previous high (I like to give myself a few cents under previous highs in order to get a fill), risk was approximately $0.25, which is a little off ideal now that I look at it.

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