Shardy's Day Trading Journey - Day 17

Today was a day of good setups that just did not work out. This can happen and it is important to maintain your composer and just stick to your strategy. Below is a good trade that overall I should have broken even but ended up losing just a little.

You can see I got in at the top of the Bolinger Band where the red solid line starts. This was a short or sell trade. Right in the beginning the next two bars went against me. This should have been a red flag for me to start managing my risk on the trade. I left my stop loss fairly high throughout the trade until the end when I moved it down and got stopped for a small loss.

Once the two bars went against me I should have moved my take profit to essentially a breakeven point. That would have covered me from incurring any losses. The trade was good and valid but as the experts would say, beginners must learn to manage their risk right away.