I recently got onto the following two stocks in the direction of the trend, but jumped off WAY too early. What happened was that I was basically looking at the Level 2 screen and when I saw a tiny pull back I jumped off.
I'm still new to this and paper trading but here are the two trades which I am still kicking myself over.
NAV
Short @ 51.90
Exited at 51.60 - realised I got off way too early so went short again at 51.20 and my trailing stop triggered at 50.90 (although the execution price was 50.99)
My position size on this was quite large as the risk at the point of entry was deemed to be low so I was kicking myself.
ITMN
Long @ 45.60
Exited at 46.15 - watched it move up to 46.50 at which point it reversed.
I am thinking initially I will keep my stop-loss quite tight, but as soon as it starts moving, then relax it a bit...
I'd like to hear what people use as an effective stop-loss strategy to avoid this from happening.
MODS - I'm not sure if this is in the right sub-forum so could you please move it to the appropriate one if this is the case? Thanks
I'm still new to this and paper trading but here are the two trades which I am still kicking myself over.
NAV
Short @ 51.90
Exited at 51.60 - realised I got off way too early so went short again at 51.20 and my trailing stop triggered at 50.90 (although the execution price was 50.99)
My position size on this was quite large as the risk at the point of entry was deemed to be low so I was kicking myself.
ITMN
Long @ 45.60
Exited at 46.15 - watched it move up to 46.50 at which point it reversed.
I am thinking initially I will keep my stop-loss quite tight, but as soon as it starts moving, then relax it a bit...
I'd like to hear what people use as an effective stop-loss strategy to avoid this from happening.
MODS - I'm not sure if this is in the right sub-forum so could you please move it to the appropriate one if this is the case? Thanks