Daily setup: Gap up on news, into resistance, fade from premkt
Entry/play: tested high, few min base, shorted breakdown
Management: Initial stop above day high. Then trailed stop. I considered stop of .86 or .93. The .93 would have kept me in, but that gets back to picking good stops and honoring them. .86 seemed like a good point bc the level2 I watched for entry.
Psychology: Why short a gap up? I'll allow that for gaps into resistance and weak market conditions.
Later, after a struggle, this broke down like I hoped. But I traded the plan and that was the exercise of the day.
Take the small losses according to rules bc yanking stops is more harmful overall
Popular Posts
-
Today is the second time in a few days that someone in "the other discord" (not my main pod) has tried to make a case that a stock...
-
I've had a beautiful several-day run trading where everything seems to be clicking. I'm raking in steady really nice money. I'm ...
-
Market is extended down. Not my best climate bc usually my setups are pretty played out and I'm not good at reversals. Plus, Friday and ...
-
I backed up and "pdf"ed this blog. In blogger I backed up the theme and the xml (uninteligible code). The surprise TREASURE was ...