Shared by
Spartan_Trader
P&L: -75.44
Intraday Setup: First pullback buy
Watched this stock on the 1 min chart for a pullback, as it was in play moving $1+ at the open. Tried to get in as soon as it bounced off of the 9ema. Placed a tight stop on it. Held on to it for a 3:1 Reward-to-risk but it was a no go.
I took another position on it, this time watching the 5 minute chart for the pullback (entry $15.93), again I timed it wrong. It did bounce off the 9ema (15.76), however it did so above my my stop loss, so I held for the bounce (Stop $15.74). I added to the position once support held and it was riding the ema. Took a loss as it did not reach my RR 2:1. Sold entire position for a loss.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-20 09:45:26 | CROX | buy | $16.000 | long |
| 2014-02-20 10:03:13 | CROX | sell | $15.890 | long |
| 2014-02-20 10:03:14 | CROX | sell | $15.870 | 0 |
| 2014-02-20 10:06:09 | CROX | buy | $15.930 | long |
| 2014-02-20 10:06:13 | CROX | buy | $15.930 | long |
| 2014-02-20 10:06:13 | CROX | buy | $15.930 | long |
| 2014-02-20 11:00:20 | CROX | buy | $15.990 | long |
| 2014-02-20 11:00:21 | CROX | buy | $15.990 | long |
| 2014-02-20 11:00:24 | CROX | buy | $15.990 | long |
| 2014-02-20 11:57:08 | CROX | sell | $15.830 | long |
| 2014-02-20 11:57:42 | CROX | sell | $15.830 | long |
| 2014-02-20 11:57:42 | CROX | sell | $15.830 | long |
| 2014-02-20 11:57:42 | CROX | sell | $15.830 | 0 |
Comments
Sayed
One big ass candle up usually ruins/exhausts/chops up the setup.I just pass those.
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It was to extended intraday on the first buy. Wait for the pullback setup to present itself then hit it, which you did on the third buy.
No setup on second buy.
Third buy was worth a short but it couldn't hold $16.