Timeframe: NO CLUE
Strategy: NO CLUE
Valid Trade: NO
Thoughts at time of trade: Not sure what I saw at the time of the trade.
Notes: trade actually went 1.24R and I should have been monitoring to get out. My stop was not properly set and I took a 2R loss... BAD TRADE.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-08-18 09:46:57 | PMCB | buy | $8.239 | long |
2021-08-18 10:02:33 | PMCB | sell | $7.070 | 0 |
Hey, playing the PMCB casino today? Same here. In and out a few times. Didn't have the testes to try my luck for the break of the PM high. Finally broke and squeezed on no news. I guess your stop was 8... but it blew right through it? What was your target? Rough one. More opportunities tomorrow.
@JRojas006,
The "R" is just the risk i'm taking per trade... For easy math let's say my risk per trade is $100. If I am taking a trade and my stop loss is $1.00 below the share price I would buy 100 shares. If I get stopped out I will lose $100(1R). With a $.50 stop I would buy 200 shares... My target per trade is usually 2R or two times my risk.
Hope that explains what you were asking.
@SpecTraderJMC,
This was just a poorly executed trade. My stop should have been just below the low of the candle previous to me getting in the trade. I shouldn't have gotten into the trade because of the topping tall candle two candles over on the 1' chart. Traded right into it and trade did exactly what it was supposed to do... STOP ME OUT.....LOL I should have only taken a 1R hit thought and took 2R.
Happy trading today.
Yes, thanks for the reply. What type of profit target did you have in mind for this trade?
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How do you go about calculating the "R".