Shared by
Spartan_Trader
Pre-market Gap-down/bear flag
Didn't follow risk management rules on this trade. I had a feeling it would fade and make for a good bear flag on the light volume bounce. I mistimed it, but I continued to hold anyways. As it weakened I added to my position. My reward was greater than the risk at the peak of the move to the upside, but I consider this a bad trade although it was almost $200 in profits.
My decision to cover at the vwap was right on, it barely broke under the vwap and later turned into a squeeze zone play.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-04-30 09:52:36 | POWI | sell | $43.910 | short |
| 2014-04-30 09:55:29 | POWI | sell | $44.620 | short |
| 2014-04-30 10:00:49 | POWI | sell | $43.655 | short |
| 2014-04-30 10:33:59 | POWI | buy | $43.260 | short |
| 2014-04-30 10:33:59 | POWI | buy | $43.250 | short |
| 2014-04-30 10:52:42 | POWI | buy | $43.038 | 0 |
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