Shared by:
Dandres
I didnt gauge correctly the range of movements.
First trade here was too extended from the VWAP and even the consolidation break. Got out immediately because I didn't like where the entry was.
Second trade was called for with all 3 indicators but I was holding aggressively even up to the point where the price action COMPLETELY reversed and even went past my entry price.
- I should NEVER let a winning trade turn into a losing trade.
Third trade was a retest of the break and so I took a short again, resolved and got out on a 50% retract.
Reflection
- Take into consideration the ATR and the movements that the stock has already moved. Is the move reasonable even if all the indicators are there?
- Don't let winning trades turn into losing or break even, that's like having the winning lottery ticket and letting the wind rip it from your hand
Execution detail:
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