Nice short play in SPY but a little rusty on the management…

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  I did not get the first drop in the SPY this morning but I was going to be all over the next setup which triggered just after the 11:15 am reversal time.  I had the trigger that I took but I knew I might have to set through a little heat, and I did as the high of my trigger bar was taken out by a penny.  If the next 5 minute bars high would have been taken out, I'd been outta there, but to my luck price rolled over and headed lower.  Price did not hesitate as it moved through the 20 ma and put in a nice little pivot I area where I was able to add more shares to my play and bring my stop to a break even.  Soon I hit my first target of 209.70 which was near the prior low.  Price just kept falling from here hitting my long low target of 209.45 where I sold my last lot.  Honestly, at this point, I should have been bar by bar with my management on the 5 minute chart which would have given my an additional .65 cents if I just waited for a green bar to close on the 5 minute chart and take my profit once the high of the green bar was pierced.  I guess I'm just a little bit rusty, new broker, new platform, new layout, etc...  Even though I missed out, overall it was a great money maker, and I'll take it...

SPY 08032015
SPY 08032015

    

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