So i waited for TSLA to pullback and now i am long again. stop is under the big green candle low.The prevailing wisdom is to scale out of a position. I think that is wrong. My way is to add to the winning trade until momo slows. That way I am maximizing the opportunity I recognized and acted on.
TSLA shows me a flash of green so I add size. my supposition looks to be correct
as TSLA moves above the price it stopped at I add more size
markets are falling strongly, I'm very profitable so its time to sell TSLA.
I'll keep an eye on it for moves to new highs though
2 comments:
Rawr!!! Pro - you are so pro! That is how it is done.
Some fine day...
dtf-that is how its done if you want to minimize your risk and maximize your profits.
if you go all in at once your risk is too high and the momo may not be so strong. when you increase size this way, you are riding on the backs of other traders to make you money. you are already trading risk free.
small spread, huge volume stocks rule.
TSLA today reminded me of the BIDU IPO. it was just like this except BIDU moved about $60. how it moved up and pulled back, moved up again, no tricks just always higher, predictable.
that was the day I became a trader having applied what I had learned and robbed the bank for a massive amount of loot.
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