In this week’s market analysis, I talk about the importance of knowing when you’re wrong.
Whenever you put on a trade, you have to know the point where you’re wrong. But the question is, when?
This depends on your original trade idea. If your original trade idea is invalidated, you have no reason staying in a trade any longer. But if the trade idea is still working out, then you have every reason to hold onto the trade.
I explain this with Palladium and Soybean trade which I’ve traded recently.
I hope you have enjoyed this week’s market analysis. As always, comments are welcomed and encouraged. Cheers!
Do you know the 5 Secrets of trend following that makes it profitable over the last 200 years? In my FREE trading course, I reveal to you what are the 5 secrets, and how it can improve your trading immediately.
You can download it here for FREE.