Good trade or not

[anton_baranovskiy]

Hi guys,
Want to discuss trade in TSLA few days ago. Took this stock near 29.00 cause of good level and consolidation upper level. Was an enter there or not? Upper - stock (5 minutes chart), downside (small - daily chart of the stock) and SPY.
http://www.daytrader.ua/com/masterchat/111102-TSLA.gif

 

[mike21]

Hi Anton,

You were probably watching TSLA because they were supposed to announce earnings on Nov 2. (the day of your trade) But they didn't announce until Nov 3. So when you made your trade the volume was very very light.

I see why you liked it. The SPY was trending down, while TSLA was holding up near daily highs.

My trading style is different than yours. If I was going to take that trade, I would have entered with a buy stop above the minor resistance at 29.11, with a stop under the figure. The advantage to your style... you can have a very tight stops.

~Mike

 

[anton_baranovskiy]

For my stop order - yes, it's small (6-8 cents). But I try to enter in stocks with potential minimum 40 cents. Friday was very good day for such situation: http://www.daytrader.ua/com/masterchat/111104-DVA.gif