Shared by:
WesleyR_BOWS
SIM DAY #15
Shares Traded (Day): 10,900
Closed P&L (Day): $2,419.00
Today was fun at the open, trading with the Bulls and Kunal. I was able to catch the first 5 minute candle stick and trade from what I saw with it. Discovering price action in the beginning was a new lesson for me today. As preached by Kunal, the very opening is about price discovery, so I did not want to be too greedy with profits. Had 1 losing trade today for a small loss, but mostly had all successful trades. Saw opportunities to jump back into stocks such as $NFLX and $TSLA and take them for trades after already closing all positions for profit. Never gave profits back so that was a huge success in and of itself.
Shares traded: 1000 (TSLA below)
Closed P&L: $900.00 (TSLA below)
Took this trade to open the day. Soon as the stock went green to red, I shorted it. Was a great play. I could hear Kunal in my head telling me to not be too greedy; the open is about price discovery, so I took profits and scaled out quicker than needed, looking back in hindsight. But was a successful trade nonetheless.
Execution detail:
Comments
jetcitytrader
DeWayne here - Lemme share something with you. I found this over time, and it is often repeated. With stocks that flush like this. I may be wrong, but it's just my experience.
When you see this happening - that first big bounce - is an opportunity to add or get back in. I try to be out of my entire position between 9:45 and 10:15 on a large flush with LOTS of volume behind it. If you go back and look at this trade and your NFLX trade from today - you should see some similarity. Also - look at SPY and see how these two behaved in accordance to it. Same patterns? Out around 10AM reversal time? Don't get greedy down there (not that you did!)
Hope that helps a little and spurns some thinking.
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NIce. Looks like your entry was an anticipated red to green so you got an OUTSTANDING entry with very low risk. Definitely agree to take shares off the table quick at the open. But there's nothing wrong with holding a small part of the position until one of your reasons is met either. Not to imply should do that. Just a thought.