<COMPARISON> When Should You Jump The Trade? - 05/07/20 RECAP
Hi traders,
Today is a holiday in my country so I laid back and didn't rush with Thursday's Recap. That allowed me to do an improvised comparison of two trades - one from Thu and one from Fri, both of which I exited earlier and possibly cost myself some money.
We'll look at all the variables that go into deciding whether you should "jump the trade".
My Trades:
1) VIAC - LONG @17.04, a breakout long that proved weak, exited early. -0.46%
2) ZM - LONG @158.10, a nice breakout in a crazy spready and fast market. To be honest this was a test for me that I took with half the usual position and failed to hold for more profit. I got a "taste" of what this type of stock feels like when in trade to be able to slowly get used to it. +0.98%
3) CNP - SHORT @17.88, in retrospect I should've settled with the +1% it offered before close. +0.05%
4) SAVE - SHORT @9.79, a nice breakdown setup for a scalp, sadly didn't work this time. -1.05
5) SNAP - LONG @18.05, a breakout late in the day over a major resistance. It went only a couple of cents before pulling down again - should've closed earlier as per this video's topic. -0.85%
*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: -1.33%
Total PnL for the week: -0.36%
Good trades,
Tom | FINEIGHT
Today is a holiday in my country so I laid back and didn't rush with Thursday's Recap. That allowed me to do an improvised comparison of two trades - one from Thu and one from Fri, both of which I exited earlier and possibly cost myself some money.
We'll look at all the variables that go into deciding whether you should "jump the trade".
My Trades:
1) VIAC - LONG @17.04, a breakout long that proved weak, exited early. -0.46%
2) ZM - LONG @158.10, a nice breakout in a crazy spready and fast market. To be honest this was a test for me that I took with half the usual position and failed to hold for more profit. I got a "taste" of what this type of stock feels like when in trade to be able to slowly get used to it. +0.98%
3) CNP - SHORT @17.88, in retrospect I should've settled with the +1% it offered before close. +0.05%
4) SAVE - SHORT @9.79, a nice breakdown setup for a scalp, sadly didn't work this time. -1.05
5) SNAP - LONG @18.05, a breakout late in the day over a major resistance. It went only a couple of cents before pulling down again - should've closed earlier as per this video's topic. -0.85%
*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: -1.33%
Total PnL for the week: -0.36%
Good trades,
Tom | FINEIGHT