Breakout Trading using Time and Sales

[amit1986]

+20 cents per share MAPP double top...shorted just above the $16 whole number when weakening was becoming increasingly apparent on level 2 and time & sales...and covered when it failed to go any lower.

I was incredibly tempted to turn this into a swing trade, knowing full well that all those people who had been buying up stock earlier on would start selling. But given today's small profits and choppiness, I decided to get out.

 

[ChocolateDigestive]

+20 cents per share MAPP double top...shorted just above the $16 whole number when weakening was becoming increasingly apparent on level 2 and time & sales...and covered when it failed to go any lower.

I was incredibly tempted to turn this into a swing trade, knowing full well that all those people who had been buying up stock earlier on would start selling. But given today's small profits and choppiness, I decided to get out.

great trade you took the profits off the table that's what matters. yeah it probably will go lower as everyone unloads, 7m daily volume so far is crazy.

 

[amit1986]

+61 cents per share MAPP breakout to new highs

 

[amit1986]

clearly got out of MAPP too early! but a nice gain nonetheless

 

[ChocolateDigestive]

+61 cents per share MAPP breakout to new highs

you are killing it. Amit. awesome.

 

[amit1986]

MAPP breakout trade on the 5-minute chart with incredible momo...not an easy trade to manage, but had to give it a little wiggle room...as it was retracing initially, I could still see buying...I suspected that the breakout, with obvious buying buying buying on time and sales may have enabled the market makers to drop the stock and force other longs to cover...but the fall didn't seem strong enough, so I decided to stay in. It then accelerated higher, closed the gap and I got out.

 

[amit1986]

done for the day. good trading to all!

 

[amit1986]

FAS, FAZ, TEA, ESRX, ZOLT, ARO, PNR, TYC, RBN, SNX.

Futures quite flat pre-market.

 

[piggybridges]

nice thread. I've got a day off work, so Im gonna practice my stock trading today for fun(usually swing currency trading)

 

[amit1986]

nice thread. I've got a day off work, so Im gonna practice my stock trading today for fun(usually swing currency trading)

good luck!

 

[amit1986]

glued to PNR but it's simply too volatile...

 

[amit1986]

nyx

 

[amit1986]

+9 cents per share NYX reversal

 

[amit1986]

pure level 2 momo, nothing on the chart

 

[amit1986]

wprt

 

[amit1986]

no, not wprt...far too unstable

 

[amit1986]

amln

 

[amit1986]

+12 cents per share SNX breakdown to new lows

 

[amit1986]

very volatile stock...but saw some selling pressure, so shorted at 37.50, got filled at 37.26...and it simply fell down below 37...I got out too late though

 

[evostik]

very volatile stock...but saw some selling pressure, so shorted at 37.50, got filled at 37.26...and it simply fell down below 37...I got out too late though

Amit - I guess the 'bad' fill is cuz of short sale restriction?
Cheers
Steev