$PCTL was a great lesson from the Market! I had a game plan, but the odds did not go in my favor. No big deal, this game is not about being right or wrong! I am still in the game. Risk Management is vital to any Trading System. Staying in the game is goal of any new trader in my opinion. Here was my Thesis on $PCTL- Look left to see the right- this is more of a speculative trade- I am long overnight as I would love to sell into a gap up. Ideally the high of .040- the long term breakout will crack- again this is a game of ODDS! I do have an entry- stop and target price- I did miss the dip, buy got the one before the close. I was expecting a gap up. Rule of Thumb- don’t have any expectations, be reactive, not predictive! The Gap failed. My thesis was busted! I was patient as long as my risk level held- when my risk level was hit I simply cut my loss. Weakness- Don't long an over-extended chart- look left- when my thesis is busted get the fuck out! when the gap failed that was my signal to get out! Great lesson! onto the next! Video Recap along with Live Trades can be found below! See you Soon!
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