(This post was written on June 1st 2013)
The price action in $TSLA from the past six trading days does a nice job of demonstrating 3 distinct types of trades. Not all trades makes sense to all traders. But if as a trader you can figure out which of these trades fits your personality best and then build a detailed trading plan on how to attack it next time it occurs you can start to improve your consistency. Most of the experienced traders Bella and I have interviewed over the years who are struggling do not have a well defined playbook and this is the primary cause of their widely varied results.
Trade 1: May 23rd Consolidation Break Swing Trade. After three hours of consolidation Read more [...]
(This post was written on June 1st 2013)
The price action in $TSLA from the past six trading days does a nice job of demonstrating 3 distinct types of trades. Not all trades makes sense to all traders. But if as a trader you can figure out which of these trades fits your personality best and then build a detailed trading plan on how to attack it next time it occurs you can start to improve your consistency. Most of the experienced traders Bella and I have interviewed over the years who are struggling do not have a well defined playbook and this is the primary cause of their widely varied results.
Trade 1: May 23rd Consolidation Break Swing Trade. After three hours of consolidation Read more [...]