Hi thanks for taking the time to read this. Lets say I draw my trend line and price has been rising for a couple of days off the trend line. How to I decide if I can still take the train? I know for the $ management I reduce the intended 1st buy of my position as my stop is further down than if I bought on the trend line itself. But even if I manage my risk, no point if the odds of the move not working is higher once off the trend line. Might have more questions but lets see if this is not a robot. PS: I don’t YOLO options on margin with reddit, I trade only my cash in equities ( saved me on my 1st big rookie mistake in 2019) I brought 70K to 330K from October 2020 to mid February 2021 (missed most of the rockets of 2020 as I started full time as a trader after 2 years of prep and went threw the finding my identity and trying them all, while not loosing it all) . But after selling at the top in mid February I ended up coming back in and out and going down to 230k. I little of that is explained by switching from swing to position trading as I finally found the style that went with the life style I wanted, so I guess It takes a tole on the account while the wheel starts turning again. My worst drawdown was like 50% in summer 2020 ( I can hear you all the way in Canada saying how did the kid miss out on all of that) I like my volatility….. Anyways really hope this is not a robot; bigger email than planned.
Start here to change all of those bad habits.
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