I’ve been moving up my Stops to…
- Limit my losses
- Increase my position in cash
… until things stabilize. Below are a few positions that hit my Stop in the past 2 trading sessions.
Tuesday’s
MMM
- I’ve lost the entire 1R when I tried to chase an entry on MMM
- It turns out that my Stop at $92.00 was a well placed security
- I expect prices to $89.50 before getting Support
- In hindsight, it was a great opportunity for a day-trade with an entry-point located at the break of the Bear Flag, or Opening Low
- There are still some decent profits if you place your Stop at the High of the 2nd bar
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