Your stop on $RAY is probably wrong at $1.6121 and here is the fix
Most traders pick a random percentage for risk instead of reading the chart
Price is trading right now at $1.7802 up 9.9 percent on the day
Volume is running heavy at 2.3x the weekly average with an RSI of 62
The hourly ATR sits at 1.7 percent which means normal noise swings about 3 cents every hour
Placing a stop closer than that hourly swing guarantees you get shaken out by random chop
A proper stop belongs just under the invalidation level that actually proves your idea failed
Put your risk below the recent swing low of $1.6121 so market noise cannot steal your position
Open $RAY and set an alert at that level
Where do you normally set your stops when trading high volume breakouts
#RAY #TradingTips
Most traders pick a random percentage for risk instead of reading the chart
Price is trading right now at $1.7802 up 9.9 percent on the day
Volume is running heavy at 2.3x the weekly average with an RSI of 62
The hourly ATR sits at 1.7 percent which means normal noise swings about 3 cents every hour
Placing a stop closer than that hourly swing guarantees you get shaken out by random chop
A proper stop belongs just under the invalidation level that actually proves your idea failed
Put your risk below the recent swing low of $1.6121 so market noise cannot steal your position
Open $RAY and set an alert at that level
Where do you normally set your stops when trading high volume breakouts
#RAY #TradingTips