Bought TWTR before the high of day breakout with more size than I probably would've used had I not taken losses previously in the day, but still a comfortable size nonetheless. Stop was set at about 27.15 so risking 20c. The problem is that I chased this up here and could not have a very tight risk reward setup. Fortunately the trade did work as I anticipated and I took partials on the first pop and set the stop for the rest of the shares at breakeven. Of course, the stock came all the way down to my stop and I was stopped out at the bottom before it ripped without me.
Lesson - put your stop where you'll definitely be wrong, not where your breakeven is.
This is obviously in hindsight now, but .30 would have been a better stop to give it room to work.
Execution detail:
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!