Shared by
over9k
- 10:55:57 ROKU rule break S100s
a. Cutting size. Not trading well. Will increase once I have a week without rule breaks.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-12-17 10:44:55 | ROKU | sell | $134.267 | short |
| 2019-12-17 10:47:20 | ROKU | buy | $134.512 | 0 |
Comments
over9k
It's more a cumulation of this month. I doubled in size, and had a rough start, so I ended up falling into a bit of an impulsive mentality. I'm still capping my losses, but a trade like that on ROKU is still a rule break.
- my max loss when i enter a trade is 60, so peeling early is just impulsive
- ROKU was far too extended for me here to take a HOD break. this was a FOMO reaction to me missing the earlier LOD break and then the run up to HOD
- I was already at 2 losing trades for the day (small ones but still count), so I should have had hands off the keyboard at this point.
Been a rough month, but I'm halved in size to minimize the damage and will double up once I clean up my trading a little bit. Strategy still works, I'm just struggling on the mental side of things.
WolfOfPort
Fair enough, to me this still looks like a good trade given you kept that stop tight. That is really whats key.
Obviously, the losing trade looks foolish in hindsight, but there was some reason to take the trade.Such as the over all downtrend on multiple time frames, so its really not too horrible of a idea here.
You took a chance it would break lower which was a fair assumption, and stopped out when it didnt. I wouldnt be too hard on yourself.
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Whats wrong with this trade? You cut your loss well?