This trade was considered to be successful due to the fact that the trade plan was executed in its entirety
During this trade, I worked hard to make sure that I kept to the trade plan. This allowed me to take advantage of the range of movement that the trade moved. I did notice one thing and that was that I should have paid close attention to the location of the major moving averages. My final profit target happened to fall directly on top of the 200-day moving average.
I will continue to listen to Mark Douglass and execute a series set of 20 trades focusing on one of my edges. This was trade 1 of the series.
Lot Size: 100
Tech Stop: Close above the range
Max Loss: 86.91
ATR: .81
PT 1: 85.09
PT 2: 84.96
Even though this was trade 1 on the lot, it was not proper execution of the trade. I did not enter on the close of the 5-minute candle rather I entered well into the second 5 minute candle.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-30 09:38:41 | MLNX | sell | $86.000 | short |
2019-01-30 09:46:44 | MLNX | buy | $85.090 | short |
2019-01-30 09:48:15 | MLNX | buy | $84.960 | 0 |
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