Shared by
robw_BOWS
Sim Day 4
Shorted $MNK under resistance. Since I didn't catch it quick enough, I set my stop-loss a little loose. As a result of entering late, I got stopped out. If I had caught it a little quicker, the short would have worked, and I would have made a nice little profit.
FYI... I have a day job, so it's difficult to trade. However, I try to make a couple of quick trades here and there.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-05-06 10:11:07 | MNK | sell | $57.320 | short |
| 2016-05-06 10:12:23 | MNK | buy | $57.620 | 0 |
Comments
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Robw,
Good job just the same....when I first started trading I was putting stops to close and constantly got stopped out.......I had a hard time accepting that I needed to let my trade have some room......so that meant smaller position size and confirming that I was trading on a solid set-up.........something that Kunal and my mentor constantly talk about....The daily chart shows both support and resistance at $60. so for me IF I had confidence in my trade I would have set my stop slightly above the wicks at about $60.65...which is far too much risk for me at your entry...it worked out good for you.....tuff to day trade with a job......perhaps swings might work for you.....at any rate it's a profitable trade and that's a +++++ for oyur confidence level.
Good luck Robw