Shared by
tjmiller2001
Entered with 3:1 RR on a momentum play, not my usual setup. My Stop was hit in less than a minute and I got out. That was just a wick down and it ended up immediately running from 68.6 to 70.20.
This was an early exit, with bad stop loss rules.
Lesson Learned: Exit rule should be, "I will wait for a 1m or 5m candle to close below my stop to exit. The only reason I can get out mid candle is if there is high volume." A high volume selloff could indicate everyone else has their stops in the same place and are scrambling for the doors.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-02-04 09:44:23 | PLUG | buy | $69.000 | long |
| 2021-02-04 09:45:18 | PLUG | sell | $68.660 | 0 |
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