Notes are on the chart. This is a reversion trade ONLY. Don't get too excited yet. The weekly trend is still DOWN.
Trade closed: stop reached:
Well Friday sucked. I did not expect such a brutal, steady retreat and I failed to have a plan to resist profit giveback. I closed for a miniscule loss (which was hard after having a double on it), but allowing my trading capital to be hit as well would be irresponsible. Out, disappointed, learned. I won't let that happen again. The timeframe I set for this trade was to close by Friday's close and EOY. Given a short-term trade like that, I should also include short-term profit protection strategies. Could have very easily held onto my gains. Oh well, this is very good because I'll never let it happen again which means in the future, I can count on being even more profitable! : )
Comment:
Obviously, I got stopped out before the run really got going. : P