Entry comments: IRIS play with potential upside of 345.63. Keep risk at 5% and lock in gains if in a downtrend.

Exit comments: This was a mistake. I put in a 5% trailing stop order, but I should have put in a hard stop at 5%. What happened was the stock went up and then I stopped out on the pullback, which was higher than the 5% below my buy price. From now on, I will put in the stop, and once the stock increases to a certain point, I will put in the trailing stop. Lesson learned - this was too conservative, and I lost out on a gaining stock