This content details a specific stock trade, highlighting a missed opportunity due to a premature stop-loss, while also celebrating the success of other traders who followed the same strategy.
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hey guys Brian from airball traders here
it is Sunday
I guess it's May 20th I was gonna get
this out on Friday May 18th but he's got
busy and we had our meet up in Vancouver
yesterday I was well attended event it
was great good to see a lot of the
people in the room and put some faces to
names so yeah it was a great great
afternoon and Andrew and I did the
webinar for the annual or the full time
members on Thursday that was great so
anyway I just wanted to cover a trade I
did on Friday I actually screwed it up
and but it you know it was a good trade
and I do know some people took it and
made money on it which I'm you know
happy about
I didn't lose I just lost the Commission
on it i kicking myself for doing this
but anyway yeah m80 gapped down you know
we we were watching it at in the
pre-market I wasn't actually watching
this but one specifically Andrew hand
had had it and he caught it on the
opening range break down and you can see
here gave a nice nice breakdown at the
open didn't really didn't really wait at
all like you look here at the pre market
it was pretty steady just started to
taper off just prior to pre market and
it just dumped as soon as a market open
so you know he had a good chance you
missed this one you had a good chance on
this bull or this Bear Flag to answer it
and get lower like I said I didn't take
that trade but you know at 10 o'clock I
start looking for reversals double
bottoms and notice the m80 around here
and noticed it was not breaking to a
lower low so I mentioned it in the room
said it was watching it for a double
bottom minute or so later I took the
trade 48 62 was my entry and it started
looking pretty good if I had my stop
down at 48 50 but when it started
looking good I thought okay I'll just
move my I'll put my stop of 48 60 and I
used a hard stop on this because I was
looking at some other stocks I didn't
want to
get it so unfortunately that was really
that was the dumb part I should not have
used such a tight stop on this I should
I should have gone with what my original
thought was which was to put the stop
around 4850 and that would have given me
a 12 cent downside risk and I was
looking forward to break 49 which which
it did and 49 came from here so and a
whole number as well so that's kind of
where my risk reward was you know from
sixty to thirty-eight cents up twelve
cents down better than three to one so I
was you know pretty happy with that
trade and entry and like I said I just
put my stop in too tight and they came
down and tagged me right there Bank got
me so you know obviously pretty annoyed
that I made that poor judgment to move
my stop up so that's what happened and
you know it did a little more
consolidating here and then like took
off so and I think it actually went as
high as 50 but I know like I said I'm
happy some people took the trade didn't
get stopped out and made some money on
that so you know that's you know that's
good for them glad they took the trade
and shame on me for making a bit of an
error there so yeah when a couple people
commented why they don't why I'm not
showing price markers on some of my
charts quite often I'm not trading
through dose trade through my TD account
like trade through and then some
registered accounts I trade sometimes
I'm just watching tws because I have my
bigger watchlist there and I trade
through tws I don't you know I don't go
through the dust
I really just watch the dose primarily
for the view app because that's in in
some of the moving averages it's got
some good charting stuff but I just
haven't been using it that much it has
an actual trade vehicle so that's why
you don't see any price markers on my
one my charts so anyway that's it we'll
see everybody in the room Canadian
holiday tomorrow we'll be working
and guess we'll take the Memorial Day
weekend next weekend as a holiday so
hope everyone had a great weekend we had
a great time at the Vancouver Meetup and
hopefully we'll see everyone in the room
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