Received 5 Karmas
Madbash
Madbash Jan 27, 16 6:01 PM

Thanks for sharing. I know when I go in to a trade I immediately decide my exit range. In this case I would probably have a mental stop of 3% so you gotta watch for those 10-15 cents that will start to put you past your risk limit. With your finger on the trigger, if those 5.30s start ticking off hit Buy to Cover limit 5.35. Now, in practice it doesn't always work so easily, but I think that is the best approach for cutting losses quickley. Good Luck.

Patience_Trader
1
Patience_Trader Jan 27, 16 6:44 PM

Always gotta remember there will be another opportunity. It is always better to miss an opportunity that to short at the bottom or buy at the top. Just dont make the same mistake and you will do just fine! Thanks for sharing

fastdounut
fastdounut Jan 27, 16 7:30 PM

Yea I agree, should have waited for a pull back, then short

GKOPENA
GKOPENA Jan 28, 16 4:46 AM

You said it in your post, you had no risk/reward set before you entered the trade. That is the key and you realised it quite brilliantly. Next time you will do better. And thank you for sharing

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N4IN

[TimAlerts] Careful with $TROV. SSR on and that wall of sellers at 4.40 are shorts. Could squeeze

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