Sadly, our stop was hit. 26.59-27.36=-.77*$600/pt=-$462.00 loss. Ouch.
As I explained in the first post of this thread, we were getting in early. When you get in early, meaning before a good confirmation, this is what can happen. Well, anything can happen at any time, but what I mean is you don't have as good an edge without confirmation.
I suppose the lesson is, if you can't handle the size of the risk by waiting for confirmation, then don't take the trade, unless you're very comfortable with losing that trade.
Another lesson might be if you get in early, you have to manage that trade a little differently. Be more jittery. Exit at the first sign of trouble. Proceed with the assumption the market wants to foil this trade. Because you're not really trading with the confidence of your usual edge.
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