i chased this stock today because i was kinda annoyed at myself for not taking it short at the open as soon as support broke. i traded it good cut my losses fast. im really trying to improve my tape reading when im in with big size so i dont get draw down on this account. I should have been following the trend short not longing it.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-10-24 09:51:00 | T | buy | $31.020 | long |
2018-10-24 09:52:55 | T | sell | $31.030 | long |
2018-10-24 09:54:22 | T | sell | $30.970 | 0 |
2018-10-24 09:55:11 | T | buy | $30.910 | long |
2018-10-24 10:00:22 | T | sell | $30.990 | 0 |
2018-10-24 10:01:41 | T | buy | $31.040 | long |
2018-10-24 10:04:12 | T | sell | $31.160 | 0 |
2018-10-24 10:23:02 | T | buy | $30.900 | long |
2018-10-24 10:26:09 | T | buy | $30.920 | long |
2018-10-24 10:29:53 | T | sell | $30.860 | 0 |
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Hey... this is a tough play! I considered trading this short as you suggested, but my experience has shown that shorting gap down plays on WELL KNOWN stocks like this have a poor expectancy. So didn't trade it and missed out on this one. I am still trying to work on some kind of indicator that might give me a clue as to when these plays work on well known stocks. It's a bit of a crap shoot as far as I can tell though.
I have also played around with the idea of taking the reversal long, but this one didn't turn out to trigger that idea.