Stop Averaging Down
Those that were with me on live stream
yesterday, saw me play QQQ puts and calls. I had stated when to get into puts and calls. The price level to wait for. What price we are looking for it to get to.
Anytime I get into a play on live, I give you the price I'm looking for it to get to. If it is having a hard time to get to that price, I am out of the position. If I see weakness in either price going down or up, I am out of the position. There's no emotion when it comes to trading. It's not about being "right" it's about risk management and what you see at the chart in front ot you.
I read on public about someone averaging down.
That's the dumbest thing to do, why risk more money and hope to be right? That tells you that
A. Your thesis at that time was incorrect
B. You're not managing your risk management
C. You're now HOPING it goes your way
D. Price finally comes back to breakeven and you have no strict stop loss, only for it to go back down and you're adding more contracts for no reason
E. Failure to understand that you can ALWAYS get back in on a play, if you don't have the funds available there's ALWAYS the next trading day
F. When you avg down numerous times, you're finally green and think you're a winner. You're not.
You took unnecessary risks to try and recover your play. SAVE YOUR CAPITAL! Please use a strict stop loss in place. You can always get into a play at another time.
yesterday, saw me play QQQ puts and calls. I had stated when to get into puts and calls. The price level to wait for. What price we are looking for it to get to.
Anytime I get into a play on live, I give you the price I'm looking for it to get to. If it is having a hard time to get to that price, I am out of the position. If I see weakness in either price going down or up, I am out of the position. There's no emotion when it comes to trading. It's not about being "right" it's about risk management and what you see at the chart in front ot you.
I read on public about someone averaging down.
That's the dumbest thing to do, why risk more money and hope to be right? That tells you that
A. Your thesis at that time was incorrect
B. You're not managing your risk management
C. You're now HOPING it goes your way
D. Price finally comes back to breakeven and you have no strict stop loss, only for it to go back down and you're adding more contracts for no reason
E. Failure to understand that you can ALWAYS get back in on a play, if you don't have the funds available there's ALWAYS the next trading day
F. When you avg down numerous times, you're finally green and think you're a winner. You're not.
You took unnecessary risks to try and recover your play. SAVE YOUR CAPITAL! Please use a strict stop loss in place. You can always get into a play at another time.
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Teaching how to trade off of TA
Respect your capital and securing profits
@SOC_Trading
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Ravi_Sharma : can you share youtube link pls ?