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Shared by
MarcoG

 

Z

Feb 22, 2019 09:39


Shares traded: 64
Closed Gross P&L: $-6.32
Gross Return: -3.16R

Tags:

No Way Open Trading Day

Set-up :10min ORB
Symbol Name:Z
Side :Long
Size :8
Entry :39.69 / 39.53 /40 / 40.070
Takes :
Exit :39.3 / 39.31 / 39.86 / 40.03
P/R :

Comments: I am happy that finally I have got my answers. Today as any other day I had 5 names on my list. 2 of them were my favorite, great volume profile and good price action. The best set up I could wonder to get any trading day. The little detail is that both the stocks I wanted to trade had an ATR above 5$. My entries thus should have accept a stop loss that would cover about 2$ movement prior taking off. But this is the reason why I never trade such stocks. Completely wrong attitude. I can't pick my stocks based on ATR or other bullshit. I just need to set a technical stop that will give me the space to let the stock move. A stop of 2$ would be around 10$ loss but my max is 7.5$ so how do we do this?
I will trade as per now regardless ATR but technically. So if my stock needs 2$ movement I will provide it and as a consequence raise a little bit my minimum stop to 10$
LTT (the stock I wanted to trade today) gave a movement of 13$ with a 6:1 P/R.
It is worth it.
I have entered in Z giving stop losses that are used for small caps, such as below the previous candle. The end result was in a trying and failing every time I've entered, while if I was providing a technical stop at 38.6 also this stock would have given me a beautiful 2:1 P/R trade. I have got the point and I will start to adapt accordingly.


Execution detail:

Date/time Symbol Qty Price Position
2019-02-22 09:39:47 Z 8 $39.690 8
2019-02-22 09:42:15 Z -8 $39.300 0
2019-02-22 09:47:02 Z 8 $39.530 8
2019-02-22 09:49:07 Z -8 $39.310 0
2019-02-22 09:54:22 Z 8 $40.000 8
2019-02-22 09:54:29 Z -8 $39.860 0
2019-02-22 09:57:19 Z 8 $40.070 8
2019-02-22 09:59:36 Z -8 $40.030 0


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