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Edit: actually I think I see it now. You traded multiple contracts and scaled out of the 1st with a small scalp, and then held on until the major support for the runner. Is that right?
Thank you for responding! I understand why you sold when you did, and actually I took that as a buy opportunity for myself in my journal for the run up.
But what I don't understand is what gave you the confidence to hold until that support? You didn't get shaken out when the position moved against you shortly after 9:30 est on your chart.
I'm looking through your posts, and I just don't see how some days you hold out for the major support, even through drawdowns, and other days you close out much earlier.
Is that your secret sauce?
Personally I've been struggling with managing winning trades and scaling out. I don't mean to be too abrasive. Just trying to learn and get better myself.
A part of my trading plan, is to only use a portion of the leverage compared to the overall account size. The plan to do this offers room for a retrace. In those cases, the leg into a trade can average out the loss and try to break even. If the read of an entry is correct the time in a trade will be for a short time to profit. On those occasions where the entry is wrong, the plan takes a loss and a longer trade will see if it can salvage the day. A larger profit target to compensate for the risk helps average out the losses.
Thanks again for responding. I don't know if there's any takeaways for me, but I still appreciate the color. Early success with Mack's PAT was the largest source of gains, and subsequently leading to my biggest regrets/mistakes. I'm interested in your success and subbing to see how it progresses