GCEventsmoveGDX

GDX Morning Shakeout Example #1

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
42 0 0
The pre-market GC             trade was one or two dollars either way. Even the pit was flat.

The GDX             was flat as well, until about 15 minutes before the open, when It started dangling the hook to the downside.

Regular market opens, GC             drops, GDX             drops, and you go short on a high probability trade.

The market reverses to the upside and hits your stops. Your trade is flat with a debit on your account.

The market drops again but you have not recovered from the first washout, and you can't pull the trigger to short again.

How many times are you going to let this happen to you.

Lesson #1 Scale into positions, that way if/when the market reverses on you, it is not as costly, and you still have some dry powder to catch the top of the reversal. And if it doesn't reverse, your in the game with a credit to your account.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out