Monday, October 1, 2012

wider stops

initiated a short -- with a 5 tick stop because I didn't want to lose. 

Well, it went one tick higher, stopped out, then dropped 60 ticks.

So fear of losing via a tight stop results in losing.

The correct stop should have been 9 ticks away.

What I'm looking for is a double top or triple top then some kind of divergent confirmation.

You must get comfortable with taking trades and taking losses, and then you can take winners, too.

Getting comfortable with winning....

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