Reviewing my last trade for 2021: $TRT 25%ish gainLuckily, I ended up 2021 with a win. It was a modest one but given how tough the trading environment was back in December for the long side (likewise in the start of 2022), I'm thankful that I was able to pull off a W. Let's review it
$TRT is the ticker of the trade.
First entered the trade back in December 7, 2021 (1st Green Arrow) at $9, when it proved strength. Cut was $7.20
Was a little challenged by this trade given it didn't move right away as I expected it to. When it retraced, I gave myself two options: follow the original cut or exit the position early and buy it back in case stock proves me wrong. Decided to go for the latter and went out of the position last Dec 13, 2021. (1st Red Arrow)
I was proven wrong. I went back in TRT on Dec 15 (2nd Green Arrow), again when it showed strength and added more when it slightly corrected (Multiple Green Arrows). Me being proven wrong by the stock earlier gave me more confidence to size this bigger compared to the initial engagement.
Used the 5 Day Moving Average to trail my profit when I was ahead. Was initially targeting $15 but it never happened. TRT retraced to my trail profit, putting me out of the trade at $11.40 with a 25% gain (2nd Red Arrow). Expected more but can't complain. A nice end of year bonus.
Takeaways from this trade: Always be ready and be patient for your A+ setups to manifest.
Zooming out, the area pattern traded is an ascending triangle, a bullish area pattern
Hope you learned a thing or two.
Thanks and good luck out there!
