Profit/(Loss) With Commission: -------------------------------- ($93.00)
Details:
Intraday breakout, gap fill, daily range break, 1000 shares. On this trade I was hoping that a break of the $2.52 mark on the daily would prompt an end of day gap fill to $3.44. The correct buy spot to make it low risk, however, was $2.45, where the stock broke out intraday. This would have allowed me to have a lower stop without adding any more risk, and given me the ability to either sell flat or scalp the trade if the breakout and gap fill at $2.52 failed. I chased this one quite a bit and my logic was a little messed up. Also, I could have waited at $2.52 because it was unlikely that it would just blow right through and fill the entire gap. It was more likely that it would test that $2.52 level a few times and then break out after flagging or tapping a few times. Overall I overreacted and got caught in the heat of the moment thinking this was going to be a huge gain and I didn't think it through properly. I give this trade a C- because it was a solid idea, but was poorly executed.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-04-26 13:54:15 | HUSA | buy | $2.530 | long |
2012-04-26 13:56:46 | HUSA | sell | $2.450 | 0 |
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