Shared by
silverholden
I won't go too far into this. Bought for a swing based on daily flag, made a bunch of mistakes. Couldn't let it go when it went against me, tried to make it do what I wanted. Needless to say it did not. Horrible trade, horribly overtraded.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-04-01 11:10:04 | AMRI | buy | $18.660 | long |
| 2014-04-01 11:55:02 | AMRI | sell | $18.580 | 0 |
| 2014-04-01 11:59:11 | AMRI | buy | $18.510 | long |
| 2014-04-01 12:36:17 | AMRI | sell | $18.410 | 0 |
| 2014-04-01 12:36:17 | AMRI | sell | $18.410 | short |
| 2014-04-01 12:50:44 | AMRI | buy | $18.560 | 0 |
| 2014-04-01 12:50:44 | AMRI | buy | $18.560 | long |
| 2014-04-01 13:41:37 | AMRI | sell | $18.390 | 0 |
Comments
EL_BOWS
I assume you were looking for a pullback/bounce on your first long. One of the key things that I look for on a pullback is volume -- look at the pattern here. First you've got a 5 candle low volume run-up followed by three red candles that were of LARGER volume. Then you have the pop on almost no volume followed by three red candles into the MA which were all almost the same volume as the pop. That's not a pullback, it's trash. For a pullback, I want to see a pop/run-up on large volume (big green bars) and then pull back in two or three stairsteps down on significantly less volume.
mattp_bows
One thing I noticed here - this is quite long-shot flag especially considering the volume. This stock has been a monsterrr up until this point. The chances here of it seeing another big run worthy of a swing is much much lower as it's already pretty extended upward.
Just another thing to look for when looking for flags. Flags are best when its the first or second consolidation after quick moves.
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!
I dont see the long setup setup you entered.