CMG - A Day Later

Hits $260 on the nose before a small rally. 

Once I figure out exactly how to determine the ideal stops I should be using to minimize getting stopped out on random noise, my results should turn around substantially.  This stock is not an isolated instance.  This exact scenario has played out repeatedly.   What this tells me is I am reading the charts fairly well enough to determine the most likely next decent move, but I am not seeing points where a possible small counter trend could stop me out.

Ideally, you want to pick a price, that if hit, probably means the trend you thought was going to happen has a far less likelihood of occurring.  If that price is too far away then the risk/reward profile for the trade becomes poor, and you just don't take on the trade.  Determining proper stops/exits on a trade are far more critical than entries for me at this point simply because, as of yet, I am not as good at it.