So today I only took one trade and it was a great setup and I almost followed my plan. We saw a good daily level at 18.12 so I traded a basic break bounce of the level and executed it pretty well. The big flaw with this trade was the profit taking. I setup a 10 cent risk above the level so my win today was the same size as my risk. This is not good since my risk reward should be at least 2:1. The good thing was that the stock continued to move in the direction i traded it in. Getting all the way down to 17.34 in the same swing. This means that I was very much right, but I missed out on around 3.5% of profit which is a ton.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-27 09:40:58 | TCRR | sell | $18.110 | short |
2020-07-27 09:41:47 | TCRR | buy | $18.025 | 0 |
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