So in this trade I think I tried to buy a 5 min breakout however this was straight after a massive 5 min candle. Usually at the end of the day if there is a big move, I should expect a pull back. If I had waited the next 5 min candle to make a new high would have resulted in about $1 move. If I look back a bit more though to the peak before I bought, there are a few false breakouts. So I think I really need to make sure that I cut losses quickly. Another thing to remember is if that the stock that I am looking at has been trednding up all day, I can probably risk of the highest low at that point instead of the last 5 min candle.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-11-18 14:35:04 | KZIA | buy | $15.000 | long |
2020-11-18 14:39:12 | KZIA | sell | $14.690 | 0 |
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