I don´t understand why you closed all positions. In the report from the 27th you wrote "21dma rejection & Close below 1713$". Well the 21dma got rejected but IWM didnt close below 1713.
Neither LNTH and VIR got below the SL you had.
Thankful if you can expalin it in more detail to me :)
Hello! Yeah there was a typo in Monday night letter, I corrected it in the Slack channel live but it was intended to be 1755$ pivot...not 1713$. LNTH did go below my entry pivot and VIR made a big reversal at the breakout level, for my that's 2 big red flags. The thing is, if you wait for the SL to get it, you are at risk of an overnight gap down below your SL at this point after such reversal. That's where the art of trading comes into play. I prefer closing the position before SL is hit and re-enter later than taking this risk. That's the "feel" you'll develop as you learn trading, sometimes you prefer simply stepping away when we get a big reversal at major level like that than trying to "save" a position. Anyway, you can come chatting in SLACK in DM if you want more info :) cheers!
Hi Alex,
I don´t understand why you closed all positions. In the report from the 27th you wrote "21dma rejection & Close below 1713$". Well the 21dma got rejected but IWM didnt close below 1713.
Neither LNTH and VIR got below the SL you had.
Thankful if you can expalin it in more detail to me :)
Cheers
Hello! Yeah there was a typo in Monday night letter, I corrected it in the Slack channel live but it was intended to be 1755$ pivot...not 1713$. LNTH did go below my entry pivot and VIR made a big reversal at the breakout level, for my that's 2 big red flags. The thing is, if you wait for the SL to get it, you are at risk of an overnight gap down below your SL at this point after such reversal. That's where the art of trading comes into play. I prefer closing the position before SL is hit and re-enter later than taking this risk. That's the "feel" you'll develop as you learn trading, sometimes you prefer simply stepping away when we get a big reversal at major level like that than trying to "save" a position. Anyway, you can come chatting in SLACK in DM if you want more info :) cheers!
Thanks, how do I find the slack channel?
Mhh I sent to your email address, but you can DM me on twitter with it if I want me to resend it.