Today I got into $FRTD at $0.044 for an intraday breakout. Well I followed my rules and set my lose at $0.0418 (5% lose). $FRTD ran to $0.05, then came back down and shook me out. Well I then went to bed, woke up to find that FRTD had a day high of $0.07 (75% gain), closing at $0.0623 (53% gain). So by following my rules, I took a $50 lose and left $750 on the table. Time to rethink my rules and study intraday trading more.
Disclaimer: At the time of this post, I no longer hold a long or short position in the above mentioned securities. I may or may not re-enter a long or short position in the above mentioned securities without notice after the publishing of this blog post. I have never been compensated in any way for my mention of the above securities.
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