4-15-12- AMGN: Stopped out
This was a bad trade all the way the way around. Went for -783 in violation of the 2% rule in execution. My buy stop was not high enough So I was stopped in without a breakout. I set a stop, with stop limit. at 66.10. Remember: stop limits are for offense, Stops are for defense. My stop limit was gapped, so I pulled it. It cost me an extra .60 cents causing me to violate my 2% rule.
This chart still doesn't look like a break down or a break out. It's probably closer to a break down. But had I taken a smaller initial position, I could have had a wider stop.
4-25-12: what might have been:
Anyway, I think I can learn from watching this. If it continues to run. I can adjust my entries to a break outs, or determine whether to look for an entry on support of the channel. A buy at 66 would be looking great right now. Yet that's where I got stopped out.