Trade Plan: BUY (at market close)
Here is what happened:
(click to expand)
Commentary: We had this as a BUY trade and though it dropped in after market and we were stopped at 7% in our Trading Room – for those attending watched us enter Trade #2 (another long position at 1.10 to recoup the loss. We closed Trade #2 at a 13% profit and entered Trade #2 at 1.22 with a $1.50 profit target. Those that followed this trade leaned about loss mitigation with the experience being profitable on the 2 follow-up trades which made up for the first loser. This is not always the best thing to do, nor does it guarantee a profit, but there print wasn’t bad and the company has great potential and as digested their release (as other traders would) it was a comfortable re-entry and profit take as it resumed the trajectory we forecast.
Jump Zone Profit: -21%
Trade #1: -7%
Trade #2: 13%
Trade #3: 23%