StockPunk

Finally, I get a trade that works out the way I planned it. This trade came from a NR7 signal using Trade Ideas. I spotted it just as it was breaking out of the "bull flag" consolidation and I put a stop just below at 20.06. After leaving money on the table on several of my trades recently, I decided to place a limit order at 21.09 where I estimated that the "measured move" would end.

I went for a bike ride and returned to find the stock sold. I assumed that I had stopped out with a 1R loss but then I noticed that the limit order had triggered. The stock was on its way back down when I got home, so I was relieved to see that I had benefited by unemotionally trading my plan.

In the past I would have trailed my stops using the 20EMA (green line) as my threshold, so I probably would have sold at 20.70. Corey at Afraid to Trade (my mentor extraordinaire) challenged me to change the way I was setting my stops and determining my exits when I spoke to him last week. I owe him for the success of this trade.