Placed a Paper Trade Today... · InvestCEO with Kyle Henris

Placed a Paper Trade Today...

Hey I'm new so this is one of the first trades I've ever placed. It's a short trade with a Jedi set up. Have some extremely newbie questions to ask. As you can see from the chart, the candles entered into my demand zone. I got the alert on my phone, so i did my best to place the trade using that for the first time. In hindsight, I realize my entry was at the top of the zone instead of the bottom, caught myself on that one. Also, I couldn't make out where to set my order to be sub $500. Out of trepidation of the market moving past the zone, I purchased a few hundred $ above 500. It's hilarious how easy it is to go outside the boundaries. However, after I placed the trade a wick went above my zones. I assumed this would equate to a loss. But it then came back down into the zone and has ended up being profitable. Is this common? Is this what it means to, "let the trade play out?" Or should I have cancelled the trade once the wick went above my zones. Also, do I have to do anything to collect one the order has been filled or is all automatic?

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