Bad Trade? Please Give Thoughts?

[voko119 0]

On the simulator this morning, I went long after the 1st 5 minute candle at 21.70 for the opening range breakout ans sold t 21.45.  I got stopped out    I tried again at 9:55am and it didn't go well.   Should I have avoided this trade because the 1st 5 minute candle was too big?

 

 

 

 

 

 

 

[Robert H 455]

The first trade was okay in my opinion. Andrew took the same setup and was stopped out much later. It happens on ORBs quite often. The opening candle wasn't too big, but the close was too far from VWAP for me to bite.

 

The second trade was a slightly late entry if you were going for an ABCD. It could also be a 10-min ORB, but the wicks on prior candles and chopiness were not optimal.

 

I took SYMC long at 21.40 around 9:46 AM on the new 5-min high. I sold when you went long :)

[Dima 10]

I took the same setup just before Andrew did. If anything was bad about the trade (in retrospect), it was that with a $0.50 stop loss to the first technical level, you'd require a $1 move upwards from the entry to have a solid 2:1 risk-reward. For a $20 stock, that equates to a 5% move, which may be a bit much to ask for a stock already gapping up almost 10% on the day. MU has had similar setups recently that turn out to be great ORBs because, as a higher priced stock, a $1 move is very much reasonable.