Shared by
oly_BOWS
This was a nice clean ORB entry on a gap up. Unfortunately I chose to exit as we approached mid day, if I could have trailed the 20 through end of day would have made about 2R on this sucker.
Instead I had to take a scratch.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-09-05 09:44:40 | LPX | buy | $16.790 | long |
| 2013-09-05 11:06:46 | LPX | sell | $16.790 | 0 |
Comments
oly_BOWS
I think you are right. So far I have been refusing to scale out below the 2R level, it was shy of that by like a penny. I am thinking I will start scaling out any time over 1R if the chart has some crazy move like that.
markmandy54_BOWS
M still trying to figure out how to scale without messing up r:r as well as gotta sell partial into rips.
Interesting how we can rationalize raising stop which skews r:r but not taking profit on spike
kunal00
guys remember that ur r/r will improve when u start hitting some 10-20% trades.. so yeah u sell a bit early on the first 1/2 but the 2nd half is a huge homrun ur r/r might end up 6 to 1. if smeting spikes irrational or too fast or too aggressie common sense still has to come into play ... to build intuition takes a bit of practice and repitions but it will build slowly.
That's what i was wondering, thank you for the post Kunal, very helpful.
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Looking at the LARGE green candle, I would partially sell some on the spike. i know, easier said than done.