Shared by
KeithL_BOWS
On my list for PB. Big PB on ORB.
Trade 1...Climbed back up to MA's & VWAP. Dropped under MA's and shorted for the flush. Target of 92.80 and stop at 93.50. No Flush, stopped out on the bounce.
Trade 2...Pretty much the same as #1. Did catch a little more of a dip and scaled out for a few dollars.
BOWS.....Is there anything i could have done better to see that the 3rd dip was going to be the flush??? I missed the big flush by about 30 minutes... ARGH...
I am assuming the answer will be....have a looser stop??
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-03-13 11:32:29 | MPC | sell | $93.400 | short |
| 2014-03-13 11:50:02 | MPC | buy | $93.390 | short |
| 2014-03-13 11:53:31 | MPC | buy | $93.400 | 0 |
| 2014-03-13 12:18:05 | MPC | sell | $93.350 | short |
| 2014-03-13 12:40:10 | MPC | buy | $93.320 | 0 |
Comments
KeithL_BOWS
If i give it time to consolidate, how do i know when is the right time to get in? Do i get in when i did and just hold it with a looser stop??
Nape_BOWS
Your entry was fine. You needed a looser stop. $93.60ish stop. Stop has to be a bit looser when playing these high dollar stocks.
My stops are killing me. I kept a soft stop on my AMZN trade and thought i was gonna crap myself when all of my profits were eaten up by a quick bounce..
I guess thats where worrying about P/L can affect your trades.. But....to some extent, how can it not??
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
It was consolidating. Give the trade time to play out..http://screencast.com/t/dL2cFd9PreY