THIS Is Why You Need Stop Losses!! - 06/17/20 RECAP
Hi traders,
Some days trading is harder than usual, most of the times because the SPY is indecisive or switching "sides" frequently. Wednesday was one of those days. Most of my trades went into some profit, but eventually failed. The last trade of the day in NCLH put me back into more reasonable loss for the day thanks to my 1:2 RRR I aim for.
Anyway in the video I talk about the importance of Stop-losses as I was kicked out with MORE THAN 40c SLIPPAGE in GRUB. Now imagine if I had no SL and it didn't retrace... scary stuff!
Trades:
1) GRUB - LONG @64.84, -1.31%
2) KSS - SHORT @23.68, -0.49%
3) BA - SHORT @192.3, -1.02%
4) PDD - SHORT @81.56, -0.65%
5) NCLH - SHORT @19.45, +2%
*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: -1.46%
Total PnL for the week: -1.52%
Good trades,
Tom | FINEIGHT
Some days trading is harder than usual, most of the times because the SPY is indecisive or switching "sides" frequently. Wednesday was one of those days. Most of my trades went into some profit, but eventually failed. The last trade of the day in NCLH put me back into more reasonable loss for the day thanks to my 1:2 RRR I aim for.
Anyway in the video I talk about the importance of Stop-losses as I was kicked out with MORE THAN 40c SLIPPAGE in GRUB. Now imagine if I had no SL and it didn't retrace... scary stuff!
Trades:
1) GRUB - LONG @64.84, -1.31%
2) KSS - SHORT @23.68, -0.49%
3) BA - SHORT @192.3, -1.02%
4) PDD - SHORT @81.56, -0.65%
5) NCLH - SHORT @19.45, +2%
*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: -1.46%
Total PnL for the week: -1.52%
Good trades,
Tom | FINEIGHT
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