**Traded COST on the rejection at 224. It was a classic breakdown playbook trade on a bad news catalyst. I risk .20 for the possbility of a 6 point move, but did not have a good game plan. I need to either size in for the first leg of the move and take those profits at 223.10 or keep my size at 1 lot and hold the trade with my stop at the original position 224.2 and let the weakness in the trade play out. This would have resulted in a 5.5-6 point move before getting stopped out. Decide on how you want to take the trade and do not get stopped out at a random point like 223.49. This trade can be improved.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-10-05 11:15:09 | COST | sell | $224.000 | short |
2018-10-05 11:20:31 | COST | buy | $223.490 | 0 |
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