Shared by:
Louie
General Comment/s:
-This stock was identified by Barrie a long time ago as a gap fill. So I set an alert in so when the stock pierces tha gap fill, I will go long.
-Stock finally pierced the resistance to enter a gap fill. but i was late. Went long anyway hoping that it will just go higher. It did go higher but because at this stage after a string of losses, I was on a trading tilt and I didnt lock in my profits when I was already up +.50 at one time. Only when the stock started to show bearish moves did I reconsider my greediness. I locked in profits minimizing my gains! damn!
Plan: (LONG)
Setup: Gap Fill
SL: 12.4
PT: 17 (unrealistic for a day trader PT)
Final thoughts:
-to be a successful day trader I just need to look for set ups like this. When the stock spikes and we are up .20 or so, we need to lock our profits in. No need to aim for homeruns. Rinse and repeat.
Execution detail:
Comments
Louie
That's a good idea, use 5 min basing price action as a stop loss.
Yes chased this stock, got lucky it continued to trend higher.
Thanks for your comments. Much appreciated.
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intraday you chased this up dollars it makes it hard to manage your stop loss always look for a little bit of a base before you buy something on ur 5 minute sou can put ur stop under