No. of Recommendations: 0
OOOPS!!!
First mistake of the trade.... (I MEANT to do that... yeah, right!!! LOL!)
... and a BEAUTIFUL ILLUSTRATION of why it can be so valuable to execute and learn this in an extremely visible and impressionable manner...

I screwed up my share order on the Short side.
Because my POSITION risk is just .60, I could go to 800 shares...
BUT, 800 shares (even on 50% margin) would cost me more than I have in my account!

I'm thus limited to a 740 lot.

REVISED ORDER;

I'm going to place a break-out stop entry (one cancels other) to go either LONG or SHORT depending on the action and ensuing trend.

26.80 Entry Stop SHORT
x 740 Shares
OCO
27.60 Entry Stop LONG
x 700 Shares

IF SHORT FILL;
27.40 Stop-Loss Cover
(Share Risk .60 = Position Risk $440)
25.70 Stop-Cover (Reversal Trap)

If LONG FILL;
26.90 Stop-Loss Sell
(Share Risk .70 = Position Risk $490)
32.60 Stop-Sell (Reversal Trap)
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