We review an Opening Range Breakout (ORB) Trade that one of our members took in SQ, his questions was...
I took a position in SQ, sold some into strength and the stock has pulled back, not enough to stop me out, should I buy back some of the stock that I sold into strength?
For us, we would stick with what we have, he did a great job of getting good stock when the trade presented itself, he took profits to lower his risk if this trade fails, by adding more on the pull back "hoping" it does not stop him out, tends to be more costly then what it's worth.
We would stick with what we have left and be patient with it, we would also make sure to have a break even stop in, as you cannot turn a winning trade into a loser.
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https://www.youtube.com/watch?v=U5CryxT7W8I