I decided to play GOOG because of stock price. Since I was buying in the rounds of 100/200 it made sense to buy stocks priced $300 to save on Fidelity's transaction costs.
Obviously it was a range-bound day. SOLD-SHORT at $296.72 at 1.38pm because (1) resistance at $297 (2) top-end of Bollinger band (3) MACD was over-extended. But I had to BUYat $297.50 because of STOP-LOSS at 2.06pm. This was very unfortunate because had the stock not reached that stop-level, it have generated a very nice profit.
Decided to BUY again at 2.28pm $295.40 because (1) strong resistance at 295 (2) MACD showing potential reversal. Had to SELL AT $295.05 because STOP-LOSS got triggered at $294.90. The mistake was that I should have waited for Bollinger to confirm..
Again BOUGHT at 3.41pm for $291.50 because (1) strong resistance at $291.5 (2) at the lower end of Bollinger band (3) MACD potentially turning around. Again had to SELL at $290.86 because STOP-LOSS kicked in at $290.90. It is was an ok trade because the stock did reverse but had to sell because or risk management
All in all, bad day although the strategy was ok.
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