I recently reviewed a few trades that got stopped out.
$RLC I entered at 67, and it got taken out as soon as it wicked below the hourly line;
$ON I entered at 105, and it broke below the consolidation range with a long wick, so I got stopped out.
Both of these went up by 50 points!
$Lobster was a bit better: I entered at 398 and got stopped out at 380. So far, it’s only bounced 30 points.
Still, at least the stop-losses were pretty tight. One winning trade can make back the losses from several losing ones.
I think I’ve suddenly started to understand the true essence of trading:
$RLC I entered at 67, and it got taken out as soon as it wicked below the hourly line;
$ON I entered at 105, and it broke below the consolidation range with a long wick, so I got stopped out.
Both of these went up by 50 points!
$Lobster was a bit better: I entered at 398 and got stopped out at 380. So far, it’s only bounced 30 points.
Still, at least the stop-losses were pretty tight. One winning trade can make back the losses from several losing ones.
I think I’ve suddenly started to understand the true essence of trading: