This is a trade idea I’m working on that is meant to be traded small (100 to 300 shares during the testing phase). The focus here is shape plays into 'flush' areas where I generally look for a turn but struggle with exact candlestick entries. I'm trying to sidestep the traps that occur at common candlestick entries and instead focus on buying an area I like. They will have wide stops, messed up ‘R’, and a win ratio that remains to be seen. In short, I’ll be giving these a dollar stop and I’ll be holding them until right before the closing bell (assuming I don’t get stopped out first). They will not require babysitting, with one caveat. If I get a ‘decent’ move in my favor I’ll be moving my stop to break even. One possible bonus from this exercise is that it will give me some practice at holding stocks a little longer which is something I've needed to work on for a long time.
