drodz 2 Posted June 17, 2020 Hello everyone! I started training this week and was long on a stock. It went up slightly but then went sideways before hitting my target. After a while of watching it go nowhere I decided to sell while I was still positive in order focus on a better trade before my planned end time. Did I make the right call? Should I have waited past the time I planned to stop trading hoping to reach my target profit? Share this post Link to post Share on other sites
Justin 262 Posted June 17, 2020 Hey drodz, in general it's called consolidation or a range (as in it's stuck in a range), and there are lots of ways to play it. If the volume is dropping off, then yes, maybe it's fine to get out. But if it is going to go for another leg up/down, keep an eye out on the volume, check the L2 to see if there are any good bids/asks ahead of you, and watch for it to start wedging towards whatever direction you are looking for. I would really recommend just eating up all the lessons in our education center - it'll give you a really good understanding in a lot of these areas: https://bearbulltraders.com/education-center/ Share this post Link to post Share on other sites
NikkiB 22 Posted June 17, 2020 I think you did fine. Sometimes I sit through consolidation to see which way it’s gonna break, other times I get bored of waiting and I just exit out and take my profit. Share this post Link to post Share on other sites
drodz 2 Posted June 17, 2020 16 minutes ago, Justin said: Hey drodz, in general it's called consolidation or a range (as in it's stuck in a range), and there are lots of ways to play it. If the volume is dropping off, then yes, maybe it's fine to get out. But if it is going to go for another leg up/down, keep an eye out on the volume, check the L2 to see if there are any good bids/asks ahead of you, and watch for it to start wedging towards whatever direction you are looking for. I would really recommend just eating up all the lessons in our education center - it'll give you a really good understanding in a lot of these areas: https://bearbulltraders.com/education-center/ I’m trying to soak up as much of the lessons as I can while I paper trade! The volume tanked when it consolidated so I just saw no way out of that unless some news came in. That small gain ended up recouping a previous loss and then I reached my daily target on my 3rd trade. Share this post Link to post Share on other sites
Justin 262 Posted June 17, 2020 Sounds like you nailed it then! Well done 🙂 Share this post Link to post Share on other sites
drodz 2 Posted June 18, 2020 4 hours ago, Justin said: Sounds like you nailed it then! Well done 🙂 Awesome. Thanks! Share this post Link to post Share on other sites
