Shared by
pstark89
I tried this twice on the open on Kunal's call. I saw it looking like an ORB. I need to stay away from that set up because it rarely works for me. Got my day off to a rocky start and I didn't get better.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-11-13 09:32:05 | VGGL | buy | $3.530 | long |
| 2014-11-13 09:36:06 | VGGL | sell | $3.520 | 0 |
| 2014-11-13 09:38:16 | VGGL | buy | $3.590 | long |
| 2014-11-13 09:38:56 | VGGL | sell | $3.330 | 0 |
Comments
kunal00
yeah that was not the best of my calls for sure. the sell was pretty lose though
so u took a 7% loss which means u need to have 14% gains at some point or u can't risk that much.
looking at ur trades most of ur trades are .5 to 1% gains which means 7% loss can not be in ur vocab just yet. taking a stab at an orb is ok..but keeping good risk is important in relation to what u do or are capable of
pstark89
Thanks Kunal. I'm with you on that. Wasn't intending on a 7% loss. The stock shot down so quickly that it was down there before I could cover unless I put a hard stop loss in there. I try to avoid that though.
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i think it is of utmost importance that you find your own trades.
do not ever simply copy trades of mentors.
it makes you a sheep.
trading a crazy runner in the first 10min is nothing for a newbee.
range is too high and price action too crazy.
again, you need to find your own trades, it is key.