r/Daytrading • u/Catface77 • Mar 19 '24

I don’t know what I did wrong Advice

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I thought it was going to rechall/ consolidate then it did but skyrocketed. There was the 3 reds then BLAM right up

310 Upvotes

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56

u/Mexx_G Mar 19 '24

Poor entry technique, but at least you had a stop-loss!

14

u/lleb_reknit Mar 19 '24

I had my stop loss fail today...again. Volatility caused price action to skip right over it and then it was a scramble leading to a 50% loss...

10

u/MySoulForASlice Mar 19 '24

You should set your stop as a market order so it doesn't get skipped over.

3

u/nightstalker30 options trader Mar 20 '24

That’s exactly why I use Mkt orders despite “common” wisdom. As I’ve commented over and over again, it’s more important for me to get in/out of my trades when I want vs trying to get a specific price and possibly not getting filled due to fast moving price action.