Description

- What was the result of the trade?

Profit target hit, I let the trade plan work and was rewarded with green. I did take it off prior to it getting to the pm lows but it was a solid profit target at 2:1 risk/reward. It bounced against me to start the trade and almost stopped me out but after the rejection it was a nice move down. I set my stop and target and took my attention away from the trade so I would not
interfere with the trade plan

Feelings

- What were your feelings during the trade?

Nervous in the beginning because it started by going against me. Once we rejected I felt a lot better and at that point decided to set my stop and target and take my focus away from the trade so the plan could work without my emotions.

Evaluation

- What was good or bad about the trade?

Good execution of the trade plan and good decision to set the trade and forget it. Bad ticker to trade due to the low volume and wide spreads.

Analysis

- Does the trade make sense to you now that it is over?

Yes it was a valid 10m trend continuation setup but the low volume and wide spread should have kept me out of the trade. Probably would not take this trade again just due to the low volume.

Conclusion

- What is your final judgement of the trade?

Good solid execution but not the best ticker to trade with the lack of volume, wide spreads, and whippy price action of the stock. Good decision to set my stop and target and let the trade plan work.

Action plan

- How are you going to avoid the same mistakes?

Stay away from low volume wide spread stocks. This could have easily went against me and with the wide spreads I could have gotten a lot of slippage on the stop out.

- How are you going to make sure you get the same results the next time if it was a good trade?

Patient execution!!!

Notes: