SIM DAY #19
Shares Traded (Day): 4,200
Closed P&:L (DAY): $1,636.50
Profitable day today. Only took 2 trades today; both ending green. I missed the initial move on $NFLX as I logged on about 10 minutes into the open. So I waited to short the first pullback to the EMAs on the 5-minute candle chart, just to get some quick profits. Then jumped right back into the stock to the long side, playing the secondary move back to previous highs and more.
Shares Traded: 2,200 (NFLX long)
Closed P&L: $1,346.50 (NFLX long)
Waited for the first real pullback on a 5-minute candle chart so that I could get in on the long side. Played the secondary move on the flag, and took profits once the stock broke its previous high of day from the initial move of the day. Was a great play I feel.
Execution detail:
Just below 94.50. If it broke that level I was getting out. If you look on 1 minute chart, right at 10am, price tapped that level a couple times. So I placed my stop on the break of that level. I almost did get stopped out too, luckily it never broke.
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Where did you put your stop on this? 94.50ish?