One thing about my trading.
I never allow big losses.
A use a 10% mental stop loss as my guide.
If my trade goes higher on strong volume.
Then it starts to drop on low volume.
I’m out!
I can always make up a 10% winner on my next trade.
I would never ride a stock down
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it is definitely a mental thing. I used ride them down 60% or more and have a huge loss. I blew up my first couple accounts because of this very reason. I am done with that. not sure why it took so many times before I learned my lesson but you can bet the lesson has been learned.
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How often do you sell down 10 percent mental stop and then boom reverses resulting in gain?
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I do this too and it’s good discipline. However, this week I had a position where I stopped out at 10% and fell to -20%, then went for +30%. That’s a crappy feeling but I can’t break my rules. Always another play like you said
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Do yoy use 30m candles? If yes, how do you know if current candle is starting drop in volume in reference to previous one?
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