I payed more attention to channels vs. futures when opening the position along with a few other indicators. I wasn't stopped out at 22.52 because that wasn't my stop. My stop was 22.88. I was short at 22.39 so a stop at 22.52 is too tight for me. My risk/reward is a little looser. I used the resistance level around 10:45 as my stop criteria. As far as closing the position, I purely went off of L2. Once BRCD gapped down and I was up .40 I didn't care what it did after that. I saw the gap stabilize briefly and decided to close. Granted, I know many times when a stock is gapping up or down it will stabilize temporarily and traders think it's about to reverse then it continues to follow the gap. I understood that was a possibility but my objective on the trade was to make .30 - .50 on the trade so I took the close.
channels vs futures? You mean bollinger bands? Hmmm, 22.38 - 22.39 = .50c (approx) Took a .40c profit. Prof. target and stop loss 1:1? (approx) nitro
that shows what nonsense all this risk:reward "calculation" is everyone gets so obsessed with. face it, the man can flat trade.