Phalanx Trade of the Day (01/14/2020)

The market has a way of sucking the confidence out of even the best traders and today was an example of that. We got in to our positions today full of confidence and did not consider just how volatile the portfolio was. In one five minute dagger candle we were down $500.00. This 500.00 loss on one low priced position caused us to initiate our 1.5% portfolio stop and we cut out of all of our positions in an effort to protect capital. We think it is better to be safe than sorry and have a max loss on the portfolio for situations like this. As to be expected, our three other positions moved in our favor and we missed out on hundreds of potential profit dollars but the value of a protective stop far outweighs any "what if" scenarios.

Phalanx Trades has decided to avoid stocks that appear to be pump and dumps and will not be looking at any ticker below the $5.00 price point. it is our hope that this measure will promote more consistency, less portfolio volatility and a stronger over all group of profitable trades in the future.

Check out the the charts below to see the trade and how it played out. Any questions shoot us an e-mail at [email protected] or leave us a comment below.

Today's Phalanx: 4 Tickers Traded (See the log below for more details): PINS, VOD, TLRY, TRXC

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Phalanx Equity Curve

PINS 5 Minute Chart - 01/14/2020

PINS Daily Chart - 01/14/2020

See the trade log below for all of the trades we made today, feel free to check them out or leave a comment.

Total P&L for today: ($500)

"Trade the Phalanx way!!!!"

Disclaimer: Phalanx Trades is not an investment adviser and this post is for informational purposes only in order to document the historical trades taken and should not be considered investment advice or a recommendation of any trading strategy. Day trading and the methods used are not suitable for everyone, please consult your investment adviser or do your own research before making any investment decisions.