An Australian trading expert once likened trades as trains leaving a platform – “it doesn’t really matter if you miss one, generally there is another coming along for you to catch in a short period of time!”

The Editor’s Select trade setup for BKW, highlighted to members on the 26th February, was one of those trains that was missed leaving the station. Generally it is a wise trader who doesn’t chase these missed trades.

Brickworks Limited (BKW) broke above a long term descending line of resistance and triggered a new bullish alert on the 14th March.

An Editor’s Select Trade setup was flagged on the 19th March with a suggested entry between $13.31 and $13.41 and a stop loss below the breakout area at $12.97.

Price moved sideways in the upper range of the breakout candle and did not retrace to the suggested entry zone. On the 24th March price continued the uptrend with a break to new highs. Chasing the trade at this new level with a risk:reward ratio of 1:1 no longer satisfied our overall trade guidelines (greater than 1:2 risk/reward to make a trade worthwhile ) so with the initial trade parameters no longer valid, this potential trade became one of the 3 (of 33) trades that weren’t taken.

Yes the BKW train left the station without us, however, the Editors Select Trade setups have provided 30 other trade opportunities since commencing in late February and a trader would have had plenty of opportunities to catch the next train.

If you would like to learn more about the Trading Edge Dynamics platform and take advantage of our Editors Select Trade Setups, sign up for a free 14 day free trial.