PAPER TRADE (LOSS)

• Setup: -------------------------------------------------------------------- Earnings Play/Red to Green/Daily Range Break
• Entry: --------------------------------------------------------------------- $7.49
• Shares: ------------------------------------------------------------------- 1000
• Stop: ---------------------------------------------------------------------- $7.46
• T1: ------------------------------------------------------------------------- $7.60
• T2: ------------------------------------------------------------------------- $7.70
• Reward:Risk Ratio (T1): -------------------------------------------- 3.67:1
• Exit: ----------------------------------------------------------------------- $7.46

• Profit/(Loss) With Commission: -------------------------------- ($43.00)

• Details:
  Earnings play/red to green move/daily range break, 1000 shares. I noticed in scanning stocks that were releasing earnings early in the morning that MFA had a potential breakout spot at $7.50 on the daily chart. I also noticed it had opened red and it had released earnings so I attempted to play the earnings momentum and red to green play in anticipation of the break of $7.50. It went green at $7.48, I bought at $7.49, it tried for a few minutes to break $7.50 but didn't hold above it or shoot up quickly like it should have so I sold for a small loss at $7.46. Overall not a bad trade, but it needed stronger characteristics. For example, the r/g play was not very strong because there was no real big run up the day before. Also I don't know whether or not they released positive earnings. Earnings could have been negative and I didn't check.