060407 - CRAY - 15mins - Gain*Paper

Symbol: CRAY
Type: Long
Entry: The beginning of the 15th bar
Exit: The final bar of the day
Result: Gained +0.56%

I think the fact that I haven't been trading regularly in the past month is partially to blame for my poor decisions. As soon as I entered the trade, I realized that there are a few potential problems with this setup. 1) The 5eMA is rather far away as Support. 2) The next Fibonacci Extension is too close, had it turn out to the next level of Resistance. But at that moment, when I decided to enter the trade, I thought that the 15th bar was strong enough, and somehow I don't know what led me to believe that the 15th bar would also power the prices to at least the 50% Fibonacci. This is pure stupidity!

Anyway, my Protection Stop was set rather low, which gave me the time to pray for a Bull run.
Believe me, throughout the afternoon, there were numerous occasions that I told myself that I should just exit the trade. I was lucky that the prices went back a bit, to allow me for a small gain.