snicket IMHO you may wish to revise your stop loss process. If I entered at 1.5c I would have set the stop at 1.3c (23 April high). This would have kept you in the trade.
Again on the second trade, a 1.8 entry you would look at a 1.4c stop (yesterday's close), again this would have kept you in the trade.
If the stop loss pips outlinedd above equate to a bigger loss than you can handle then you simply reduce the trade amount, having too tight a stop leads to false exits on whipsaws and can result in a missed opportunity (as you have experienced).
In any case this was a learning experience and $600 well spent, know key support and resistance levels before you trade, plan your exit before your entry. All the best
- Forums
- ASX - General
- robbbb, kevi, fluffy advice et al needed
snicket IMHO you may wish to revise your stop loss process. If I...
Featured News
Featured News
The Watchlist
VMM
VIRIDIS MINING AND MINERALS LIMITED
Rafael Moreno, CEO
Rafael Moreno
CEO
SPONSORED BY The Market Online