Monday, March 9, 2009

bottom fishing with too tight stop

longed nq this afternoon at around 2:37 pm at 1046 near the bottom of the day with a very tight stop at 1044.5. Got stopped out within 10 seconds.

This was a good trade for bottom fishing, but the stop was too tight. Although the stop was put near the bottom, it was too tight considering the 1-min range was 2.5 points at the time the trade was entered.

I should set a wider stop for bottom fishing!

gross profit: -1.5 points today.

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