Multiple trades
Overall... a good day. But it didn't start off that way as I majorly screwed up my first trade ESI. My plan this week has been to limit losses whenever I can. Sometimes this creates a jerky trigger finger. So, when I entered ESI (12:30 bar) the overall market was down but it was a great setup. Looks like a cup and handle right at the ORH with a nice NR entry bar. But the next bar closed down and even more narrow which made me believe this was a potential failure... so I scaled out for a small loss. Price action continued to be jerky and I just decided to bail if I could get back to breakeven... which I did. Price proceeded to zoom up $2 from my entry. Bitch.
Sour taste in the morning and now my next entries had to count. Entered EWY short off a break of the 12:45 bar which was NR (extreme) and closed right below the ORL. I didn't like the space between the 5ema so I placed my initial stop 2 cents above the 5ema at the time of entry. After what seemed like considerable sideways action... price finally dropped. It was getting late in the day and I sold all at 3pm or so. Glad I did as price moved considerably up afterwards.
Entered IBN short off the 1:15pm bar low and I thought I was going to get stopped out but price made a big move down to keep me green. Again, it was late in the day and I thought I'd sell all right above $33 which worked out well.
I also entered DRYS for breakeven as I had a bad fill and a bad feeling about the jumpy price action.
Enjoy the charts:
3 comments:
Glad to see you are back in it :)
What is EWY? Can't seem to pull up the chart from IB.
I noticed two small typos in your post. IBN you said your entry was 1pm but looks like it was 1:15??? And you sold at $33 not $30.
Sweet day
good catch... thanks for letting me know of the errors. I believe EWY is Ishares MSCI (ETF). I also had trouble initially with the new 'menu' IB offers when you enter a stock symbol.
"the twitch" - know it well :)
usually i buy too soon when my finger kinda twitches. i dont know why, but initially these trades almost always go against me.
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