Trades for March 17, 2015
(click on charts to enlarge entries/exits)
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ARTX Long
Entry: 3.49 Exit: 3.40
Took a max loss on this trade. Had a a/h run up and a little gap in the morning. Ripped up at the open and had a little pull back. I got long hoping for the ABCD set up and a push through the high of day. Didn't happen obviously and this area ended up being the high of days.
I think what I did wrong in this was not wait for some consolidation. Was watching a webinar last night by Dough (@FlourWaterYeast) about long set ups and now I remember he said that you should look for consolidation and gearing action when looking to long through a HOD breakout. There wasn't any of this in this setup and it was more of a chopfest. Definitely going to take this into account in the future for trades.
Even though I'm losing money here and there, I'm trying to stay focused on learning from my mistakes. If I'm learning even while losing money I think it's worth it in the long run.
Jay
--------'';lear
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