took a shot at "THE " at 34.45

Discussion in 'Trading' started by hitman4gk, Mar 1, 2007.

  1. with a stop loss..a rather tight one...
    if it does as i hope;THE can see 35.40 area today..if not,i have a tight stop so no real harm done.
  2. Dustin


    Journals are your friend.
  3. stopped out on very minimal loss....
  4. I want to preface by saying I'm a noob so keep that in mind when reading my post.

    Your post makes me think. THE is trading at 35.02 right now, so you would've nailed your target + some had you stayed in. Why was your stop tight? Is that your normal style of trading and you just got stopped out on this one? Or could you have used a smaller lot size with a looser stop that might not have been hit (because you'd require a larger price change to hit your target) and you'd still be in the money right now? It fell to $33.60 today, so you probably would've been stopped out, anyway, but what criteria did you use to choose your position size?

    I'm trying to come up with a good lot size strategy for myself.