Trade 1
Short GDOT This was picked from today's gap down list.
We shorted GDOT based on our trading parameters.
Entry 10.50
Stop 10.60
Target 1 10.35 Covered 1/3 +.15
Target 2 10.25 Covered 1/3 +.25
Target 3 10.00 Never hit.
Target 4 9.50 Of course didn't hit.
We we stopped out 1/3 at b/e.
risk/Return .10/.25 =250%
Not what we expected. But we gladly took it.
Did we trade wrong. No.Trade was right. We followed our plan.
Getting stopped out also is a part of the trade.
We got stopped .We respected the market's decision.Looked for a
renetry. Couldn't find one. Walked away.
Trade 2
NLFX gapped up while the SPY was gapping down.Showing strength.
Looked for an entry to go long. Only entry we found was with a stop to far away
in our opinion to be profitable in r/R compatible trade.Stop was .70 away. Too
much to risk ,we thought and walked away.(Entry was 72.00) NFLX hit 74.23 !
Do we worry of a missed trade? NO. In our books r/R was not worth it.
And by the way, you are going to miss many more trades.Move on.
