Menu Close

Did I set my stop loss too tight?

QuestionsCategory: QuestionsDid I set my stop loss too tight?
andrew_n asked 1 year ago
Hi Pat, I only started trading in simulation about a month ago, so if this seems really basic that is why.  Please forgive my ignorance and thanks in advance for your patience.  I did a month long trail with a different learn to trade program, but it did not really meet my goals or personality.  This is my first day with you all.   My question is about a position I took this morning on APG.  The morning key list said consider a buy at $23.20.  About 20 minutes after the open it hit that on good volume on the 1h and 30m charts.  I filled for $23.25.  I set my stop loss based on the 8 EMA at $22.80.  That hit a couple hours latter.   Now at 2pm Eastern it is back to that morning trigger price, but on low volume.  Should I get back in? Was my stop loss correct?  Thinking the low of yesterday at $22.60 would have been better maybe.  I was going to attach screen shot of 30min chart but I can't figure out how.  
1 Answers
Avatar photoOwen Staff answered 1 year ago

Hi Andrew,
Pat made this video for you...
https://youtu.be/niFaQBqLnZg

andrew_n replied 1 year ago

Thank you for your response.