Shared by
silverholden
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-04-01 11:22:32 | KNDI | buy | $16.080 | long |
| 2014-04-01 11:22:34 | KNDI | buy | $16.080 | long |
| 2014-04-01 13:23:30 | KNDI | sell | $15.940 | 0 |
Comments
EL_BOWS
Hey Mike; you're working hard so I wanted to spend some time on your trades and get you some extra eyes on them. I like your first entry here - ideally if you were eyeing a bounce, you'd have gotten in a bit earlier, when it broke the previous two candles' highs, or immediately as it popped through the MA in the first green candle. My only hesitation would've been the lack of incoming volume. But that's splitting hairs -- the only problem with this trade was your stop. I probably would've been stopped out at 1:00pm as it broke down below the base it formed at 16.20 and broke through the MAs. Failing that, I'd have stopped out flat as it would've had to break through the next level of support that formed (which happened to be at your buy price).
silverholden
Well, this stop was in effect the worst of both worlds. I failed as a day trade where I would have had a tighter stop, and as a swing because I would normally stay below major price support for at least several days. And this was new lows on the morning gap down. So as a swing, that is where I think I should have had my stop. As a day trade you are correct, I was too loose. And yes, I was watching too many things at once and missed my entry.
Ah, I see what you're saying now about the swing stop and the gap down blowing your plan. I don't swing, so I'm thinking as a day trader.
Yeah unfortunately with the day job my only real option is swinging mostly. Fridays I am off, so I try to day trade then. I cannot be assured of being at my desk during the week, and have missed too many moves and entries on day trades. I should have specified that this was supposed to be a swing.
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I see the p/b entry and higher lows. I'd suggest keep raising sthat stop as 16.30 was the resistance spot from intraday highs and previous close.