PCG Trade on Oct 14, 2015 11:47 from ToqueX: Tradervue User Stock Trades.

Grade=C
Swing
P/L: +2R

Setup: bull flag / wedge. The action around 53 was getting tight, and there was a slightly down day in the markets, so I took my entry with the idea that there could be a breakout in the next couple of days to take the action up to 54 and beyond.

10/15 Update. I went through a drawdown until it opened and went up today. Slightly up at this time.

10/16 Exited after the open. I waited patiently to see if we would get a rally after the opening range got shaken out. I had my stop trailed up to below where I thought the opening range activity would take place. Got the move up, and then the price action slowed down, so I let it hit the stop there at 54.14 (filled at 54.122)

Lesson: This was overall a decent trade. I liked the look of the setup and that I wasn't buying at the very top of the range. I didn't have to wait through any horrendous drawdowns and I think my stop was placed in a decent spot out of harm's way. I could have played things tighter and taken a larger position, but I don't think that's a habit I want to get into because I want to err on the side of a higher % win rate, and that requires giving some setups a bit of room to breathe.