Shared by:
WesleyR_BOWS
SIM DAY #8
Shares traded: 2000 <--- (NFLX short only)
Closed P&L: $916.50 <--- (NFLX short only)
P&L/DAY: $1,737.50 <--- (NFLX short AND long plays)
$NFLX was a GREAT move this morning. I saw a great setup after the opening 15 mins and took the trade as a short. Had a good entry point and just rode the wave down, scaling out and taking profits along the way. Looking back, I wish I had saved more shares as the stock just continued to flush like crazy; but I didn't want to be too greedy and miss out on some solid profit taking. Need to save more shares for the flush though, nevertheless. After the stock bottomed out, I did see the trend reversal and the stock began running up, I was ready to take my profits for the day and leave, but I ended up going long on the stock and rode the price back up to day highs. Almost doubling my profits for the day's total now.
Execution detail:
Comments
WesleyR_BOWS
@LPeriman_BOWS Appreciate it. But yes, I agree with you. I need to learn to trust the play more and allow it to develop more fully, so that I can maximize the profits. Especially when, as you said, I have the wind at my back shorting in a Bear market. Thanks for the input!
bodogtrader
Nice job with reading that g/r
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Nice entry and multi-time frame setup! I agree about covering too quick but also understand about taking profits quickly. Since market is weak and you are in a short, ie, wind is at your back, it might make sense save more shares until there is support (or another reason 2 exit) to cover? Not sure, but something to think about.