Choppy Trading from my side but overall a green day
A lot of choppy trading (from my side) today on $PFE. Violated some rules. Due to my good Risk Reward Ratio and my tight SL, as well as my add on the last trade nevertheless ended the day fairly green. I can’t stress enough the importance of good risk management!
#1 For a breakout (-1R)
#2 Looked like it's coming back up again so I tried with a tight SL (-0,7R)
#3 For a breakdown with again with tigth SL (-1R)
#4 Same as #3 (-0.8R)
#5 Finally worked out. Entered at the previous highs as it looked like a rejcetion with extremly tight SL. After coming down I added another 1R into the trade and brought my SL to the first entry so my overall risk stayed at 1R. Partialed all the way down for a total of ~5.8R