When I was stopped out I thought the market would bounce. Around noon the ES futures printed a hammer on the 15 minute bar. I bought 100 shares of POT. The stock was in a downtrend with every 15 minute bar making lower highs. Lost 74 cents on the trade. Then I went short but got shaken out with another 37 cent loser. I was down $140 after those three trades.
I managed to recover my loss and make $40 more so I am pretty happy.
- Trade with the trend.
- If I want to play a bounce I need to wait for a reversal.