IWM update

Looking back at my entry, it was not the best entry. I was above the 50 day moving average in a recent break of it - suggestion of bullish trend continuation. And, I did have the other markets that lined up with IWM, however I made a couple of mistakes.

Unfortunately sometimes you don't CLEARLY SEE your trades and this is a perfect example of that.

Look close at the chart below:

The green shaded candle was my entry day. But there was a problem here, the stochastics weren't low enough - they should have been in the oversold zone under the "20" mark and moving up higher. Instead they were kinda in the middle - this is too wishy-washy, you don't have a clear direction from the stochs - and we don't like that. Big Mistake.

However, once I took the entry, I should have gotten out on the yellow shaded day. Sure, easy to see that now - BUT, I did have an indication on that yellow day. Look at the stochastics that day - they were dropping. Even though the prior day was lower, and the yellow shaded day was higher - the stochs were still dropping (they SHOULD have been going higher if the price was going to go higher).

I got out of XRT, and should've gotten out of this trade as well.

OK, so now I realize I'm gonna take a loss on this one. Fine, I'll let the markets have the first shot at me. I'll get them back.

Now I have to figure out a good exit in order to minimize my loss. My plan is to wait until we get a bounce back up - possibly to just under the 50 day moving average and then close this trade for a loss.

Like I said, I'll let the market take the first shot. Besides, I'm a bit rusty from live trading and could use the rust to be knocked off in order for me to get back up and running.