Shared by
ghughes13_BOWS
Setup - Not really sure what I was trading here. Added when I thought there was a flag though.
Lesson - Set stop loss at entry price when it starts going the way you want.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-11-24 09:36:41 | UWTI | buy | $7.510 | long |
| 2015-11-24 09:36:41 | UWTI | buy | $7.510 | long |
| 2015-11-24 09:36:41 | UWTI | buy | $7.510 | long |
| 2015-11-24 09:53:02 | UWTI | buy | $7.599 | long |
| 2015-11-24 09:53:03 | UWTI | buy | $7.598 | long |
| 2015-11-24 09:53:04 | UWTI | buy | $7.597 | long |
| 2015-11-24 10:18:18 | UWTI | sell | $7.445 | long |
| 2015-11-24 10:19:43 | UWTI | sell | $7.435 | 0 |
Comments
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As you said, not sure what setup you were trading. Maybe an ORB on a 1 or 2 minute chart? But one thing I wanted share an opinion on... I'm not sure setting your stop loss to your entry price as soon as you have profit is wise. Would have been in THIS trade, but more often than not you don't actually enter a trade at the very edge of support (resistance for shorts). I set my stop where the setup becomes invalid and leave it there until a reason to exit OR a new setup presents itself. Not sure if that's "right" for you, just sharing a thought to consider.