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Avi_BOWS
I was hoping this would have a big EOD push, but once the momentum wasn't there I probably should have sold. It looked like it was gonna go and had some thrust in volume and then suddenly took a big downturn in the price.
The lesson I think I've learned on this one is to push my stop loss up to at least the buy price, that way I can at least get out of the trade flat as opposed to loss, if the stock doesn't have a big break out.
Execution detail:
Comments
Avi_BOWS
May 28, 2014
Thx for comment. Did you mean I shouldn't have put my stop under 3.10?
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It will be hard to push your stop to your buy price until you reach that 1st scale out. You gotta give it a chance. Often times they will bounce back, and then breakout again. If it bounces back to your entry, you could miss the long run. Know what you're going to do before you doing. Stick to your game plan. Know your worst case scenario before you even enter the trade. It will help with the psychology of it. But you should have set your stop under the 3.10 mark.