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Markmandy54
Great find intraday. Great bear flag, chased entry just a tad but only risking -.50 to make +1, +2, and +3 for targets. Ran +1 but never filled me even though T&S showed fills below my price...wierd. Where i made the mistake was i allowed my previous 3 losses from today effect this trade so i moved my stop up WAY TO QUICK and got stopped for a tiny gain.
If i had stuck to my plan AGAIN, all targets were hit.
NOTE TO SELF: TRADE YOUR PLAN, FORGET YOUR LAST TRADE/S.
Execution detail:
Comments
PHILnomenal
great idea! looks like you pulled a Phil with that stop. LOL.
Markmandy54
Totally micro managed this one and shot my own foot, lol.
jmoscate_BOWS
a bit of a chase but I see it as confirmation especially when you are dealing with LOD. Otherwise, your thesis was correct.
Gena_BOWS
Pretty good entry (I like that you waited for confirmation before entering). You should have set a partial cover at the expected resistance just above 152. That was the expected resistance area from the day before. To make it easy, I usually set an auto cover price near that resistance area, then when it hits, I lower my stop accordingly. Maaaan, if you had done that, you could have ridden it down to the next expected price resistances at 151 and then 150.
ckz8780
Patience patience patience! Your entry was perfect. Stop too tight IMO and that reduced probability and probably made you a bit squeamish. If you had taken a smaller position w/ a larger stop you might have been more inclined to let this sucker run for 5 bucks a share. Remember the daily chart - not uncommon at all for it to move $10 a share in a single day, so it had huge potential. Perfect entry and like you said you just micromanaged it. Sick idea at least! You'll get it next time!
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You're right... entry was a bit of a chase. Tough day today, no wonder you traded conservatively and exited at around break even.