8/25/11 Trade Results: 3 Trades, $230 Profit

Today I had 3 trades for a profit of $230. I want to discuss one of the trades below.

Short BOT: I want to highlight the initial R multiple of 6.67 that is in place when the trade is initiated. Following that, the stop is gradually reduced to a positive stop (i.e. if stopped out you're still making a profit).

 Once the trade is confirmed, I adjust my stop to positive territory.

 I keep moving the stop down as the trade progresses in order to not have emotions present.

 

I got stopped out on the jump in price present by the green bars on the 1 min. Normally, If the R multiple was larger, I would allow for this pull-up to occur and then place my stop above this price action once price continues in the downward direction