WYNN Trade on Dec 10, 2015 09:50 from ToqueX: Tradervue User Stock Trades.

Grade=D
P/L= +0.2R

Entry: bear flag

Result: Moved my stop down and got stopped out for even.

Lesson: I often have this problem: I am impatient on moving my stop down. I do that too quickly, but then I am too patient in waiting for a larger move and am not satisfied with the scalp potential in front of me and am sitting there thinking "be patient" and believing that patience is my strong suit. The problem is the contradiction and that things are not in alignment. I think that if I'm going to be patient by waiting for the move, then I also need to let the stock breathe more and for longer. Furthermore, if I am not comfortable with that, then I can move my stop down more quickly, but take the quick small gains as soon as they show up because the chance of my being spiked out greatly increases after I move the stop down.

In short: If I feel like I want to move the stop down quickly (which is most of the time), then I need to take any profits quickly so that things are congruent and in the end my strategy should be more profitable and in alignment with my personaly and current confidence level. I can re-evaluate the approach after some time.