Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-04-01 09:45:52 | PTX | buy | $5.360 | long |
2014-04-01 09:46:34 | PTX | buy | $5.360 | long |
2014-04-01 09:46:45 | PTX | buy | $5.350 | long |
2014-04-01 11:59:15 | PTX | sell | $5.200 | long |
2014-04-01 15:23:23 | PTX | sell | $5.170 | 0 |
Have you tried cutting losses more quickly? Around 10:20am, where there's the big red candle, your pattern is broken. It broke to a lower low; there was no pattern left there. Hope kills the P&L, so I'm slowly learning!
I agree about hope! Unfortunately I can't even remember if I saw this at that point or not. I have a rule I am trying to adhere to about respecting my stops. Usually I move them up when I see action I don't like, and then it goes. And to be honest, my biggest disappointments this week were tightening stops or just flat out exiting early. For swings I have to let things develop instead of turning it into a scalp.
All of my comments are through the eyes of a day trader, so take them with a grain of salt; just pointing out what I see in the charts (another perspective).
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Daily flag looks great, intraday looks like crap.