Was looking for a VWAP hold and breakout.
Ended up moving stop loss up too soon b/c I didnt want to lose more.
Stock ended up stopping me out and held VWAP before having a nice run without me.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-11-29 11:46:00 | PTPI | buy | $4.003 | long |
2021-11-29 12:03:00 | PTPI | sell | $3.910 | 0 |
Moving a stop loss is fine when a level has proved to hold support, like it has consolidated for hours or it has been tested multiple times and held.
I moved my stop loss b/c I didnt want to loss money which is stupid b/c if that was the case, I should never have gotten in the trade in the first place.
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Never move you stop loss. Once your in the trade accept the risk!