Quote:
Originally Posted by Ray_1
Yeah, It is a bad trade.
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I wouldn't say it was a bad trade, that's a little harsh. It might not have been the best risk play you've executed this week, but you can at least work on that.
Every time you step up to the plate you need to be asking yourself a couple questions:
Is this a potentially low risk/decent reward trade?
Does it match up with my tried & tested preparation criteria? In other words, does it fit & tick all of my “must have” boxes in order to hit the deal button?
Is this the type of price activity that usually returns a positive outcome for me?
If it doesn’t, or there are a couple of borderline issues, then you need to decide whether to step aside & wait until a cleaner opportunity presents itself, or maybe reduce your stake/size & keep close tabs on the situation.
Inactivity is also a valid position in the markets.
You don’t have to be constantly active out there. You got the choice of when & where you execute. Leave all the gambling, higher risk & ill-prepared activity to the knuckle heads & those will woolly or loose plans.
Get your structure nice & tight, test it to ensure you’re happy with the content & only execute when it all comes together!