BA 255C
I took the time to plan out the trade before the opening bell. I wrote down the PIVOT point and said if we defended the pivot point of 246.8, we can move towards 255,260,264. My mistake was not planning what price of the option I wanted to pay to get in. This would be easy by just looking at the low of the first 5 minute candle. I bought right at we were approaching the pivot area and we bounced right before the pivot area. When prices came back down I got nervous, instead of adding on to the trade i was looking for an out. Since prices were staying above the pivot and defending it, I should be looking to add on here as outlined in my plan. For the exit, I shouldn't be looking to exit until the first target of 255 is met. You should also immediately mark off the 2x, 3x, and 3.5x after entering so you know where to drop the limit order. TRUST THE PLAN. Only exit when prices have broken your pivot point or on the upside, if prices reach your target.