Direction: Bullish Entry: $23.23 Stop: $22.47 Target: $24.10 Risk: $.76/share Shares: 395
Outcome: Stopped Out @ $22.45 -$308.10
Well, today was a losing day unfortunately but that is going to happen. At least it happened quickly (8 minutes) that way I didn’t have to sweat watching it for hours. I was on a really good run for the month at a 87% win ratio, still at 77% win ratio though. ADMS was a great gap and go for the day, it was clearing pivots, had great premarket support as well as a topping wick on a candle from a few days earlier that would provide support. I entered on a retest of the bullish hammer candle on the 5 min chart and was stopped out within 8 minutes. This trade went south really fast and did not give any opportunity to exit or move the stop unfortunately. However, this is why risk mitigation and stops are so important. If I had not used a stop or thought that it would bounce and continued to hold by cancelling my stop. The loss would have been much greater. So, I gave back an R for the month and will get back after it tomorrow. Overall I still liked that setup they just don’t always work out.
It seems that this was saved into drafts and not posted on Tuesday so it is a couple of days late. But, I wanted to make sure I do post losing trades as well. Hopefully so others can learn and so that you all see I am being transparent. Losses are part of the game in trading. Still sitting at positive 3.5 R for the month.