Shared by:
chanel
Gapped down, entered late, and it turned green on me. I knew when I entered that it was a bad entry/trade. Instead of jumping out, I stayed in and got whipsawed around.
Today I was trying to use a bigger position size which helped amplify my losses. Lessons learned:
- Don't convince yourself to stay in a trade
- Cut your losses quick
- Have extremely tight stop loss
- Don't jump back in right after a large loss
- Trade only when you have your edge present - I had a gut feeling I shouldn't trade today.
Execution detail:
Comments
Sayed
May 18, 2014
It just acted sloppy after the gap down but notice how it cracked eventually after EMA caught up and it just could not get going. You need keep an eye for this type all day.
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Similar things happened to me today with $INSY. All i got is a few more lines for my trade plan. Hope those 5 lines help you in the future.