So Close

May 6, 2008 by Al

Overall today I had a bad trading day, but as a result of my sound trading rules and money management, I only loss $117.80. I feel victim to a 1.4% loss first thing in the morning. The stock was MCK, and it looked like a promising trade, but reversed on me after 15 minutes into the setup. Looking back over it, I should have placed my stop below the low of my entry bar in order to avoid the extra hit. While this trade hurt my pride a bit, I know the odds are in my favor that morning gaps won't get filled right away.

MCK - McKesson Corp