NQZ6 Trade on Oct 18, 2016 12:06 from scottpdemars: Tradervue User Stock Trades.

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scottpdemars

 

IMPROPER STOP PLACEMENT ON 1ST SETUP ~ PROPER STOP AND RISK ON 2ND

This trade is HIGH on the CURVE into an EXCELLENT CLEAN 30m DBD sell WICK at 9 am, I took a 2/5m DBD wick. intial risk was $50, Market was up 50 points looking for profit taking (distribution)

I did have CLEAN AIR exit as soon as I got by a 5M wick

Well I opened my Risk up from $40 to above 15m wick $120
(I decided to go ABOVE the 15m Wick 4855.25.)

Hindsight (where is rule) I could have cut my risk in half on 1st entry and taken a 2nd shot to enter this level or "proper stop" goes above entire level

Market was up 50 points STRONG TREND day (uncertain~ I don't KNOW yet) and it just WORKED it's way up thru supply and took me out. TRUTH IS I HAD AN IMPROPER STOP PLACEMENT INSIDE OF SUPPLY LEVEL

Proper STOP above 30m wick level "WOULD" have worked on 1st setup

Take a deep breath start FRESH and look for next CLEAN entry

(Notice you took 2nd setup at 11:00 when 7 am until 10 am is BEST Probability plays)

2nd trade
I almost did NOT take 2nd setup because I was pushing daily MAX loss($295) I took a 2/5/15M DBD wick leaving the 30m DBD wick above market was up over 50 pts on what appears to be a Trend day (again I do NOT know the outcome), I decide to TAKE the TRADE and I risked 3 tick on 2 contracts order filled and she ROLLED HARD

STOP MOVED to FLAT when I Hit $400 with both contracts obligation to LOCKIN $200-400 on 1 contract From above with stop

HIT T1 AND LOCKED IN OBLIGATION TARGET ($370), 2ND TARGET IS ORIGIN OF MOVE OR lower CUTTING THRU THE .D GAP

I poorly managed T2 exit and gave back $500 I need to revisit DETAILED RULES for T2 using STATS

Exits and Givebacks are your WEAKNESS

That was the most CHOPPY WHIPSAW DAY I could have ever HELD a trade to SWING Plus I miss managed T2

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PROPER STOP PLACEMENT THIS TIME

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Execution detail:

Date/time Symbol Side Price Position
2016-10-18 12:06:26 NQZ6 sell $4853.00 short
2016-10-18 12:28:20 NQZ6 buy $4856.00 short
2016-10-18 12:28:20 NQZ6 buy $4856.00 0
2016-10-18 13:26:08 NQZ6 sell $4853.00 short
2016-10-18 15:59:22 NQZ6 buy $4834.50 short
2016-10-19 15:20:46 NQZ6 buy $4838.00 0


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