UTHR - A Reminder to let trades breathe!!!
I went long UTHR on Tuesday, as per the position marked.
Its consolidating nicely after breaking out from a previous high and looked really good.
Unfortunately I messed the whole thing up!!!
I got a pretty nasty entry (got a little too trigger happy on the breakout).
My strategy as always but especially so in this market is too keep losses small (typically 5 - 7.5%). I had a stop in place of 6.08%, and got stopped out yesterday before a move to the upside, with a close above the breakout zone.
Frustratingly - I could have allowed a 7.5% Stop on the trade, this would have coincided nicely with the 200EMA (giving a little further room to the downside below it). Had I done this, I would still be in the trade.
I will keep UTHR on watch. If we see a move back down to the 219 approx area, I will be looking for an entry.
Its consolidating nicely after breaking out from a previous high and looked really good.
Unfortunately I messed the whole thing up!!!
I got a pretty nasty entry (got a little too trigger happy on the breakout).
My strategy as always but especially so in this market is too keep losses small (typically 5 - 7.5%). I had a stop in place of 6.08%, and got stopped out yesterday before a move to the upside, with a close above the breakout zone.
Frustratingly - I could have allowed a 7.5% Stop on the trade, this would have coincided nicely with the 200EMA (giving a little further room to the downside below it). Had I done this, I would still be in the trade.
I will keep UTHR on watch. If we see a move back down to the 219 approx area, I will be looking for an entry.