PAPER TRADE (LOSS)

• Setup: -------------------------------------------------------------------- Daily Range Break
• Entry: --------------------------------------------------------------------- $3.01
• Shares: ------------------------------------------------------------------- 1000
• Stop: ---------------------------------------------------------------------- $2.95
• T1: ------------------------------------------------------------------------- $3.20
• T2: ------------------------------------------------------------------------- $3.38
• Reward:Risk Ratio (T1): -------------------------------------------- 3.16:1
• Exit: ----------------------------------------------------------------------- $3.01

• Profit/(Loss) With Commission: -------------------------------- ($13.00)

• Details:
  Daily range breakout, 1000 shares. My buy in WRES was based on it breaking the 20dma on the daily while simultaneously coming out of a range on the daily, and a strong volume push on the intraday. I was hoping for a much larger push but the daily volume was a little weak. I also managed my stop poorly on this trade. When I bought at $3.01 I had a target of $3.20 or so and a stop of $2.95, giving me a 3.16:1 reward to risk ratio, but after it started to move I moved my stop up to the buy price since I had to go away from my desk for a while (and that's probably what I would have done in real life). I should have given it one extra penny though since the stock was trading in a 3 cent range between $3.01 and $3.04. I stopped around 11:55am when my stop triggered. Had I managed the stop better I could have sold this at $3.07 for a 60 dollar gain or held it overnight since it closed strong and could possibly run more tomorrow. Overall I give it a B-.