Source: http://www.smbtraining.com/blog/if-1-why-not-2#comments
Story:
One of our traders, The Original Jersey Shore, was long big at support in CEPH at 58.50 (Trade 1). He got stopped out. After the close he stopped into my office to discuss. He did not get long above the top of the range after consolidation above 58.57 (Trade 2). If you are in 1 why not 2?
Shark was loving his longs and the 42 level in MAR (Trade 1). MAR disappointed above 42.20 and did not trade above 42.30. It finally breached the intraday low of 41.98ish. Before that it failed to hold 42.02 which MAR had done impressively. I asked during a Tradecast if he got short below 41.98 (Trade 2). Answer….No. If you are in 1 then why not 2?
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