Replies to post #91821 on Simple's Green Room

[gitonwithit]

Took 15 pips on a small long position here. EW sequence here off the daily 20 sma. That pointy wedge looking thing was wave 1.

Sometimes I do sit tight but usually I plan it so that if it is the trade that I think it is, it's a very tight margin of error. If not then I rethink where I screwed up. Like today I got margined out with 12 pips because I thought the .886 should be the catalyst. It went down 35 more but it could have easily went down 150 more. Just depends on how sure I am.