Hey guys what is up, so gcad may be preparing to turn and go back up, I am closely monitoring it today as I do believe it is due for not just a big pullback or correction but I also feel like that most recent low (support) needs to be validated
Let me explain why I think so - If everytime a trader buys support that support is broken..don't you think eventually that trader will get smart and stop buying support? This is my reasoning I believe it is a mind game the dealer is going to play here. Continue to allow traders to believe that support still is very much a thing - keep them on the ferris wheel if you will
That being said worse case scenario for me I will close the trade around a 1:14 RRR there about which in my opinion is still worlds better than what the average trader aims to take home (1:3)
We need to remember we cannot win every single trade so due to that what I like to do is when I am winning a trade see how long I can allow it to continue winning for
This not only allows me to have a bigger buffer for when I inevitably lose but it allows me trade from a much more peaceful place as once you are in a winning trade you really just need to manage your stop loss (the work is done)
Have a great day guys :)
Let me explain why I think so - If everytime a trader buys support that support is broken..don't you think eventually that trader will get smart and stop buying support? This is my reasoning I believe it is a mind game the dealer is going to play here. Continue to allow traders to believe that support still is very much a thing - keep them on the ferris wheel if you will
That being said worse case scenario for me I will close the trade around a 1:14 RRR there about which in my opinion is still worlds better than what the average trader aims to take home (1:3)
We need to remember we cannot win every single trade so due to that what I like to do is when I am winning a trade see how long I can allow it to continue winning for
This not only allows me to have a bigger buffer for when I inevitably lose but it allows me trade from a much more peaceful place as once you are in a winning trade you really just need to manage your stop loss (the work is done)
Have a great day guys :)
