061507 - SWHC - 15mins - Loss*Paper

Symbol: SWHC
Type: Long

Entry #1: The top of the 7th bar
Exit #1: During the 9th bar
Result: Lost -0.75%

Entry #2: During the 11th bar
Exit #2: During the 15th bar
Result: Lost -0.38%

Entry #1

• I saw 2 Hammers in a row and I thought it would be the time to enter
• When the prices went above the high of the 5th bar, I entered Long
• When the next bar went back towards the 5eMA... doesn't it sounds familiar?
  
• The next bar fell below the 5eMA and executed my Protective Stop

Entry #2

• It turned out that the 9th bar was just another Hammer
• With some frustrations, I decided to enter Long again during the 11th bar
• It was in close proximity to the rising 5eMA, and the entry price was already above the 7th bar high
• It turned out that the prices did went past the Opening Range High!
• But the problem was, I had to step away from my desk and I couldn't watch the trade to unfold. I set the Protective Stop based on my entry - slightly below the 5eMA at time of entry
  
• Had I watch the movement unfold in real-time, I would have adjusted the Stop to the Opening Range High as soon as the price went past it
  
• In fact, since this is Paper Trading only, I could have recorded the exit at Opening High. But I rather not. I want it to be as close to 'reality' as possible
• Therefore, another loss!