3.22.23 This is a follow-up on oil. Last week oil was at a good support and look like it would go higher. You could have traded this with a relatively small stop but if you're Trading to scalp the market it would be easy to drop out of the market and let it get away From you. The market went up about $5,000 from the support. If I'm long in a trade, I would tend to look for the market to go a little bit higher to a 1.27 to extension if the market looked like it had the ability to do that fairly easily because that makes a big difference in my reward risk Calculations. On the other hand if a market breaks to a new high and it's coming to resistance and it's at a 1.272...I would tend to take my profits and wait for a correction lower... and then scale back into the market if I thought it was not going to make a new low, There's always a risk of losing money, and there is always A risk of losing opportunity. I think it's worth spending some time to think about that and how it fits your personality and your understanding of the market.
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