CRM Trade on Mar 7, 2014 10:40 from Markmandy54: Tradervue User Stock Trades.

Big a.m. drop, saw bear flag. Short starter at APEX and added on B/D. Stop on starter was -.30 with target +1, on add moved stop on all to -.15 with targets +.75, +1, +1.50.

Note to self: RATIONALIZED abandoning plan to realize profit. THIS HURTS YOU, STOP MICROMANAGING....but great entry, great trade, and reinforces the importance of needing to let winners run.

Execution detail:

Date/time	Symbol	Side	Price	Position
2014-03-07 10:40:22	CRM	sell	$61.670	short
2014-03-07 10:44:37	CRM	sell	$61.590	short
2014-03-07 10:44:37	CRM	sell	$61.580	short
2014-03-07 11:02:05	CRM	buy	$61.319	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=CRM&trade=874441&end=20140307115405&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=CRM&trade=874441&end=20140307132705&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=CRM&trade=874441&end=20140307160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=CRM&trade=874441&end=20140406&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

bbman

2014-03-07 11:32:50

Very nice indeed, Mark!

jmoscate_BOWS

2014-03-07 12:59:42

Awesome entry! Let it ride like you said :)

Markmandy54

2014-03-07 13:04:53

This is currently my biggest Achilles heel. I will continue to work on this until i am consistent.

Gena_BOWS

2014-03-08 22:09:46

perfect entry Mark! You nailed it! There was nothing wrong with taking a partial profit where you did - but why not let the remain ride, and set your stop at your entry price (or just above resistance price levels)?

Markmandy54

2014-03-08 22:26:33

That was the plan Gena, and then i totally abandoned it. That's the biggest thing (hence my Achilles heel) that i'm working on is letting stocks run to their targets. My most recent tweaking in my review is to see what would have happened if i played the trade according to plan, if i'd stop at max loss, or harvest profits at all targets, and on most trades this week, if i let targets realize, i would have had 3x's the amount of profits. That's a 300% increase by letting my targets run. Really positive reinforcement how important it is to stick to the plan!

Gena_BOWS

2014-03-08 22:31:24

Love the reflection. Just try remember the learnings when you are trading next week. Maybe we can send you reminder notes during the trading days? :-)))

Markmandy54

2014-03-08 22:42:55

Love it! I'll put that right next to my "Posty" that reads "Let my winners run"

CRM Trade on Mar 7, 2014 10:40 from Markmandy54: Tradervue User Stock Trades.

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