Saturday, March 19, 2016

$P Trade Recap

Trade Recap
Ticker (Company) Pandora Media, Inc. (P)

Date - 3/15/16
Plan - Buy support along 50dma, and hold for a breakout above the ascending triangle pattern. Trying to capture the support / pre breakout move as in this current market breakouts are getting sold into, so why not try and capture the pre breakout move and sell into the breakout when everyone is buying the breakout... 
Entry price - $10.15
Exit Price - $9.72
Position Size - 200 shares
Profit (Loss) - ($106.00)
Learning Point  - No follow through on the chart, I chased the entry and was underwater ever since. Tried to capture my first price of $9.80 on the first day I wanted but never got filled and did not want to chase the big move and thought about re entry for next day on pull back which was this day's trade. Clearly I did not wait long enough and it pulled back quit a bit. Learning a bit more on risk/reward and doing my best to stay patient in the move. After a couple days the price moved in my favor. O well. 

 Chart - 
   Will upload chart later

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