LVS Short

LVS Short

Here is my trade on LVS today. With the North Korea drama going on the markets were dropping, bouncing back a little bit and then dropping again. It took a bit to find a good setup as things were moving so fast. The setup on this trade was the breakdown of the LOD at 62.08 (low of day) as you can see on the chart. The stop was originally placed at 62.25. This setup was for a risk of $.17 per share, so in order to risk $150 this was a total of 882 shares (150/.17=882) 882 shares at 62.08 is $54,754.56 of buying power. No big deal I will have my stop in place and have plenty of buying power for day trades. I was triggered in at 11:02 MT as you can see the big red bar, the trade immediately moved in my favor and toward our target of 2R (.17 center of risk x2=.34 target). I debated just exited the entire position at 1R which would have been 61.91, but I have been working on holding my trains that go positive immediately out of the gates. This way I can try to ride my winners for much longer and capture bigger profits. So I moved my stop down to 62.16 which was risking only about .5R since I was already profitable on the trade. As the green candle on the 5min chart formed I went to look at SPY and the overall market was bouncing pretty well. LVS was lagging the market bounce but it was in fact bouncing. On the second green bar I decided to exit our of the position at market and was filled at 62.00 for a .08 cent per share profit. So (.08 x 882 shares =$70.56 minus commission). The entire time in the trade was 20 minutes… Not a home run but a win and winning is winning.

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