Everyone has different time horizons, goals, and trading strategies. It's essential to know the strategy of the person you are following. If they are a day-trader and you are a position trader, then their entries and exits won't make sense to you. I prefer to be a position-trader, but this current market has temporarily turned me into a swing-trader
One of the best ways to become a better trader is post-trade analysis. When I am on top of my game in a perfect world, I take a snap-shot of the chart when I put the trade on. And a snap-shot when I sell. If I don't have time to do this, I might want to choose a different hobby. :-)
Even though I was in profit on this one, I felt the chance of going higher did not outweigh the risk of a pull-back since it seemed extended to me.
I am happy with my decision.
10/21/2021 NFLX 652.1299
11/1/2021 NFLX 680.02
EDUCATIONAL PURPOSES; NOT INTENDED AS TRADING ADVICE.
One of the best ways to become a better trader is post-trade analysis. When I am on top of my game in a perfect world, I take a snap-shot of the chart when I put the trade on. And a snap-shot when I sell. If I don't have time to do this, I might want to choose a different hobby. :-)
Even though I was in profit on this one, I felt the chance of going higher did not outweigh the risk of a pull-back since it seemed extended to me.
I am happy with my decision.
10/21/2021 NFLX 652.1299
11/1/2021 NFLX 680.02
EDUCATIONAL PURPOSES; NOT INTENDED AS TRADING ADVICE.