Two traders review a Microsoft trade that made $35,000 in profit before stop-losses were moved too far and triggered a loss. The mistake: watching the live P&L swing from green to red and abandoning the original plan instead of waiting for the predefined exit points.
On the hourly, we've been seeing the uptrend. Why do I need it? I need it just to see the direction that I'm going to be trading the call. Microsoft was in my pre-market. So let's just look at the replay. Okay. After getting some entry, we're pushing, adding up to the position before the move. We have a couple of the trims, price is moving, another trim, another trim. And by that moment, I have already shifted my stop loss from this area already for to this area. I think I shifted my stop loss too much because here it already triggered the last contracts with the stop loss.
At this point, you'd already made over $35,000 on this I noticed that I'm quite distracted by the P&L.
I see that, okay, the numbers are moving. It's quite disappointing when I see it's moving from green to red color. Just to focus more on the chart. Sometimes the P&L can dictate you like, okay, take profit here or close the position in loss here before it reaches the stop loss. But in reality, you have to wait for the TP or the stop loss to hit. Be patient.
