I Could Have Been Green - But At What Risk? - 04/29/20 RECAP
Hi traders,
A slightly negative day on Wednesday which could've been a winner had I held one of my Long trades for long enough. In the video you'll find my reasoning why I left early though and statistically, this was the right decision.
Focus on the long run, not on the flashy bragging rights!
The Trades:
1) HAL - LONG @10.32, exited earlier as the stock didn't react at all to uptrending market. +1.06%
2) SIX - LONG @21.09, beautiful triangle breakout was immediately stopped and turned. My idea was to reverse the position which I did. -1%
3) SIX - SHORT @20.52, reverse trade that typically works in failed breakouts higher like this. However, today it did not. -1%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: -0.94%
Total PnL for the week: -0.05%
Good trades,
Tom | FINEIGHT
A slightly negative day on Wednesday which could've been a winner had I held one of my Long trades for long enough. In the video you'll find my reasoning why I left early though and statistically, this was the right decision.
Focus on the long run, not on the flashy bragging rights!
The Trades:
1) HAL - LONG @10.32, exited earlier as the stock didn't react at all to uptrending market. +1.06%
2) SIX - LONG @21.09, beautiful triangle breakout was immediately stopped and turned. My idea was to reverse the position which I did. -1%
3) SIX - SHORT @20.52, reverse trade that typically works in failed breakouts higher like this. However, today it did not. -1%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: -0.94%
Total PnL for the week: -0.05%
Good trades,
Tom | FINEIGHT
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