11/07/14 – Prior to the US markets opening the Index Futures looked great across the board then went flat just before the open. I was reasonably confident that this Facebook stock trade and my other long on trade on Twitter were going to continue on this short term Bullish Trend. At the open this Facebook Stock gapped open higher then pulled back down towards the opening price of the trade. After this initial stutter, the Facebook Stock price has steadily increased and has been stuck for a few bars at the line of resistance at 65.72. After a great week on this Facebook Stock and in fact on all the social media stocks I decided to put a Take Profit limit order at the 1.6% profit line, which is just out of this current resistance level. I do not want to be sat by the computer watching this 5 minute chart on the Facebook Stock all afternoon as my trading day starts early before the FTSE open and its Friday!
At 10:15 am (EST Time) the Take Profit Limit Order was triggered and the trade was closed out giving me a 1.6% profit on my trading account balance. At the writing of this post later in the day I have noticed the price is higher but I am happy with this result and as I say “I’m not always right, but I’m never wrong” as these are my trading decisions As Below
10/07/14 – Yet another Facebook stock trade this week, but this time on a 5 minute time frame with this, my new social media trading strategy.
The first was a SHORT trade and was at the same time as the other two social media stocks and they are all on this POST and the second trade was a LONG trade on a 15 minute time frame and the full post can be seen HERE
As with my previous XTL Break out trades, this Facebook Stock formed a new Blue XTL bar on a 5 minute chart at 10:45 am (Eastern Standard Time) and I calculated the entry point to be 64.61 with a Stop Loss at 63.86. The trade triggered on the fourth bar at 11.00 am. During the morning session the price hit a high of 65.34 then came back to the entry point then finished the day at 64.87 . I have had a great week with this new Social Media Stocks Day Trading Strategy and so decided to let the trade roll over to tomorrow, but will close regardless of price action tomorrow as I do not want to carry the trade over the weekend. As Below