Simulator trade
Daily is PR gapper, but it gapped into an area of price resistance
ERROR trade, entered ORB on 2nd and not 3rd candle. there was an entry later as well that made this a trade. The SPY was tanking and this went 1.5% in profit, should have taken scale out and moved stop to even.
This is a loss trade that should not have been a loss, not only a bad entry and no 1.5% scale, but also I saw the trade was not working, and had emotions torn as I was thinking not o bail buy honor stop. Ultimately an ORB should work right away so I would be justified in the trading setup to bail wen I saw that.
when I replayed this on tradingsim.com and drew in the price resistance lines, while it did ORB, there was less than 2:1 available to resistance from where the stop would be...so this should be a NO GO trade based on the setup requirements of at least 2:1 RR
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-07-03 09:38:00 | AYI | buy | $137.560 | long |
2018-07-03 09:59:00 | AYI | sell | $134.540 | 0 |
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