My last trade went perfectly according to plan. I'm going to attempt a secondary trade based on the same premise, but this time, I will try to capture the retest of the .583 level. To reduce my risk, since the first trade was a success, I've reduced the dollar amount in the trade by 50% to avoid giving back too much of the profit from the previous trade, assuming I'm wrong on this one. I have also reduced the risk-to-reward ratio by 20% on the reward size to make the trade a little easier to achieve.
Limiting losses is key to successful trading.
Don't follow my trades; come up with your own ideas. Don't be a follower—be a trailblazer!
Good luck!
Limiting losses is key to successful trading.
Don't follow my trades; come up with your own ideas. Don't be a follower—be a trailblazer!
Good luck!
Trade active
Buy order filled on the 11 a.m. (Mnt. time) Hourly Candle.Trade closed: stop reached
Failed trade.Note
Stopped out of trade for a small loss. Lost $155 and some change, + trading fees. This is why I reduced the dollar amount of the second trade, after having a winner previously. Limiting losses.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.