Shared by
Hector_j18
Perfect example of why I have to be disciplined and follow my rules not my money!!!
Got long 1/2 size over 15 added a few minutes later when I thought it was going to go but it pulled back hard!
Although I had my risk defined at 14.75 since I had been on a bad run so I decided to cut my loss quicker just to save a couple bucks.. Decision based purely on my P/L which is the big NO No!!!!
Price never ended up reaching my original stop and it did exactly as I was anticipating about an hour later..
This is unacceptable for long term profitability/consistency !
I have to follow my rules no matter what emotions I'm going thru, If the setup is still valid I must bite the bullet and sit tight and plan my next move accordingly using valid assumptions !
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-04-20 09:53:34 | CAMP | buy | $15.020 | long |
| 2016-04-20 09:56:10 | CAMP | buy | $15.050 | long |
| 2016-04-20 10:04:25 | CAMP | sell | $14.870 | 0 |
Comments
Hector_j18
What made it possible for a long was that if you look at the daily chart it was stuck in big sideways range and every time it hit the low of the range around $14-$15 it bounced back.. So when it was testing 15 and claimed it for a little I saw the trade opportunity..
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Completely agree that you have stay in until the setup is invalidated. However, regardless of the result, it looked like a short setup to me. What did you see that made this a long setup?