This content is restricted to CTU members
For today’s webinar we interview community member Kainoa. He traded ticker MU on the 2 minute chart. After walking us through how he spotted this trade, we see that it had a nice gap down in the morning. Using the first candle of the day, he sets his entry point near the high of the candle, stop above, and target at the lows. After moving his stop above the next candles high, he gets stopped out. In hindsight, Kainoa’s original trade plan would have worked out if he stuck with it.
Later in the day, he spots another opportunity. Similar to the last trade plan, he’s looking for a pullback entry which he gets and immediately sets an order to mitigate. After mitigating, it reaches target and now he is trailing his winner as MU continues down. This winner wiped away his loser and then some. That’s why we leave our profit potential open and our downside capped.