Tags:
Plan:
Strategy: 2R-AON.
Entry Signal: Saw no positive momentum, though it would keep pushing.
Stop Entry: 5.66
Actual Entry: 5.66 (Slippage 0 cent)
Stop Loss @ : 10 cents (5.56)
Plan Exit@ 20 cents (5.86)
Actual Exit : 5.56 (-10 cents)
R: -1R
Break Strategy? :I did not break my strategy. Wanted it to go beyond the previous high of day. @ 9.43 EST, but broke down into a pull back.
What went wrong? not finding the correct entry points.
2nd Trade
Strategy: 2R-AON ( added BE when consolidation and extended wicks started to appear).
Entry Signal: Saw an inrush of volume above the 30 period average volume.
Stop Entry: 5.66
Actual Entry: 5.66 (Slippage 0 cent)
Stop Loss @ : 10 cents (5.56)
Plan Exit@ 20 cents (5.86)
Actual Exit : 5.66 (0 cents)
R: 0R
Break Strategy? :I began to see high wicks and topping tails, with reduced volume after the new HOD @ 5.77. Saw that as a 1R signal to at least break even, since it might not push over. So far all of april, I have seen that most of my trades dont go past 1R. So I quickly pushed up my SL to break even. And right away, price pulled back ( nearly 68 cents).
What went wrong? beside wrong entry point, i think it was well protected on the negative end.
Execution detail:
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