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EliBrown
I practiced scaling into this position as it was going in my favour. My mistake was that it had only tested the resistance level at 19.25 once and was unlikely to break where I was scaling into. I scaled in 100 shares at 18.54, 100 at 18.79, and 100 at 18.98. My stop was placed at 18.20. I let the stock play out and waited to see if it would catch a bounce off the 9 EMA or the VWAP. When it began consolidating along the VWAP with the 9 EMA squeezing over top, I exited at 18.47. I felt a flush was coming. If I had waited a few more minutes I could have booked some decent gains. I should have let my stop-loss trigger if anything. I probably had to many shares and was not comfortable losing $171 on this trade so I got out early. However, it did take a nose dive all the way down to 16.00 later on, so it was probably a good thing I exited where I did.
Execution detail:
Comments
EliBrown
Yeah I'm not really sure either. I guess it depends on the situation. If I would have had a smaller position I may have, but its hard to say.
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I sold out early as well from a similar entry. My stop was in a similar place to yours. Just like you, had I held, I would have been profitable. Instead I sold out for a loss trying to keep it small.
Should a trade be taken with a set and forget mentality when it comes to the stop? I don't know, but in this case it would have been a profitable trade if it was done like that.