Thank you for sharing and teaching very valuable lessons. Much appreciated. Took the long opportunity today at 5933. I think I am learning to wait and take trades only when opportunity is presented. Thanks to your newsletter and updates in Twitter. Can you also talk about where the stop would be for opportunities listed in the newsletter? I mean what level break would invalidate the trade, etc. that would help new traders like me.
Yes waiting for setups and developing that discipline to wait for only Grade A+ setups is what separates good traders from losing traders.
Stops are always minimum 1:1 T1 reward. In this case, a fallback below 5925 would invalidate the trade. It was never tested.
Position sizing and scaling come into play as well. If I partial add and in long from far below below (like I was today) I can play with it a bit more if needed. We don’t want to suffocate price, but we also need to know when we’re wrong.
I’ll include this in the newsletter tomorrow with more detail
Thank you for sharing and teaching very valuable lessons. Much appreciated. Took the long opportunity today at 5933. I think I am learning to wait and take trades only when opportunity is presented. Thanks to your newsletter and updates in Twitter. Can you also talk about where the stop would be for opportunities listed in the newsletter? I mean what level break would invalidate the trade, etc. that would help new traders like me.
Thank you.
Music to my ears Sudhir! Congrats man👍
Yes waiting for setups and developing that discipline to wait for only Grade A+ setups is what separates good traders from losing traders.
Stops are always minimum 1:1 T1 reward. In this case, a fallback below 5925 would invalidate the trade. It was never tested.
Position sizing and scaling come into play as well. If I partial add and in long from far below below (like I was today) I can play with it a bit more if needed. We don’t want to suffocate price, but we also need to know when we’re wrong.
I’ll include this in the newsletter tomorrow with more detail
Thanks Sudhir!
Great work