CVX was on the list as up gapper due to earnings. The stock showed a great support to the opening impulse and this gave me confidence in entering the trade. Huge incoming volumes is what we need to enter in this kind of scenarios and today both CVX and SYMC didn't disappoint. First entry was at 117.17 at 09:33 but I didn't get filled :(
I have enter then in anticipation of the move but due to the high volatility the price needed space to move. I gave him time and space to do that but I have chosen to get out. Perhaps I could have anticipate the exit and save some cents. Afterward the price confirmed the up trend and I have entered for the sole purpose of lowering my loss and get a 1:5 by the day.
I succeeded in that. My loss is 2.99$ and my win is 4.56$ Perfect :D
Obviously I could have let CVX go using also another sizing and spot a great trade but for the sake of capital preservation I don't push when not needed, while I stay defensive like today!!
My loss had to be tighter or my share size had to be lower for me to give the stock more space. I had to close it just below 117.50.
BTW I am happy about me today and I will keep the same attitude in the future, at least I will try
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-02-01 09:38:01 | CVX | buy | $117.770 | long |
2019-02-01 09:50:05 | CVX | sell | $117.170 | 0 |
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