SLV - CONTINUATION DOWN TRENDING MOVES
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| 10min - MAY 5, 6 |
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| 5MIN - MAY 5, 6 |
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| 1MIN MAY 5 |
Mistakes:
- Should have kept 1/2 a position on the initial momentum down move. Shouldn't have exited the whole position when leaving the desk. Exit half and set a stop loss so that it's now a breakeven trade and whatever works out in your favour is added bonus.
- Need to increase position size by scaling in on failures at top range of wedge consolidation.
- Still need to learn to hold for longer / bigger moves by leaving in a core position.
What I did right:
- Always thought of controlling risk. Minimize size when giving a bigger stop (when scaling into the wedge) But still need to learn to add size once risk is under control as price moves in your favour and risks/stop losses are lowered.
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