Coffee8.24.22 Follow-up on coffee. I went a little bipolar on you here and vomited out about 19 minutes of video. Sorry about that. At least I got to say everything I wanted to say. You might have to listen the couple of times because I'm describing different types of trading on the same market when it is appropriate. I am very proud of my students because they're trading is noticeably improving constantly. However, my students are attracted to breakout trades that are going higher. And they do very well with it, better than I do. But when you get into a trade and here let's say $2,000 with unrealized gains, and you start looking for a stop because you want to stay in the market longer, but you don't want any laws, and you want a prophet... in other words you want everything, that's a problem. This is because you don't have much room for any kind of Correction because your current price isn't that far away from your entry. Now I know they made out like Bandits, but what I am talking about this a logistical problem. My students are scalpers and I am telling you they do very well. I imagined them looking at the trade the way I would look through the window of a pastry shop, with bulging eyes, contemplating the I would order 2 cinnamon rolls and that I would only be taking in 200 calories! If I am scalping and I am in the money, and I've gotten to a decent target, let's say it 3/1 trader...I find more often than not that I I need to hold my original. Or A break even stop. On an opening trade I want a small. At structure, with a fine tale if I want to go along. If the market goes higher, if that was my plan unless it goes a lot higher, I have to keep my original stop or make it break even. Other than the opening trade where there is automatically a small stop for me, I find trading with moving stops, even with software it's designed to change your stop, it's generally a waste of time and very disappointed, I just don't do it. If I see it in examples where I think some Traders May move their stops, I'll try to think about it and show it to you and explain why it's generally a lousy strategy. I'll say it in a certain way now and develop the thought later: in volatile markets, you need to give them breathing room, otherwise they just stopped you out with a smaller profit. One of the reasons I showed you the various ways that you might have traded the grid Is because there are patterns and behavior in the market where you can get in and out of the market at support and resistance with a reasonable range, and that is different than getting in a little late In a breakout...trying to trade it higher.
