Wednesday, January 31, 2007

Day Trade: Long BIDU 30-min chart

Entry @ $126.45 / 700 ***late posting***
Exit @ $125.57

Entry : $126.45

Size : 700

Exit : $125.57

Stop Loss : $125.65

Risk : 0.8

P/L : ($616.00)

R : -1.10
I missed the channel/base breakout entry so I waited for a low risk entry point in the form of a narrow range cstick. Entry was on the 5th cstick and position was stopped 2 csticks later. I failed to notice the resistance area in the form of a minor high around $127 in the daily chart.


Zoomie said...

I was wondering how you manage your stop loss and risk on your breakout trades. Nice trades today!

mc said...



I would always prefer a stop below consolidation area but if the stop is too wide for me, I just risk $1 on the position. That is that reason that I cap my position size at 700 (max $700 loss per trade + slippage).