Shared by:
ToqueX
Grade=C-
The setup: Pullback to 9ema (on 5m chart)
The result: I got the move and took have of my position off after the first thrust. I was targeting for more and moved my stop up to slightly above my buy price. Then I got stopped out.
The lesson: I could have kept the stop slightly below the buy price after already taking a small profit on the first half of the position. Since I was more or less risking off of just above 5.00, this level had not actually been violated and my plan was still valid. A few more pennies of forgiveness on the stop would have kept me in the move and my profit could have been about 3R. Duly noted, but I'm glad to have made a relatively clean trade here.
Execution detail:
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