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 |
Wednesday, January 31, 2007
Day Trade: Long BIDU 30-min chart
Entry @ $126.45 / 700 ***late posting***
Exit @ $125.57
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.
Exit @ $125.57
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2 comments:
I was wondering how you manage your stop loss and risk on your breakout trades. Nice trades today!
Zoomie,
Thanks.
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).
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