Choosing Not to Trade Is Also a Decision
As mentioned in my previous journal entries, I was already holding positions in **MRNA** and **PANW** when **RBRK** presented a valid long setup.
From a technical perspective, RBRK met the conditions I typically look for. The structure was clean, relative strength remained intact, and it satisfied the requirements of my trading plan.
I still chose not to enter.
The decision had nothing to do with the quality of the setup. At the time, **MRNA** was still carrying active risk, while **PANW** had already been moved to **break-even**. According to my risk management rules, adding another position under those conditions wasn't justified.
There are currently several other stocks on my watchlist that continue to look equally attractive. However, identifying opportunities and acting on every opportunity are two different things.
For now, my priority is managing the positions I already have.
The only circumstances under which I'd consider adding another position are:
* One of my existing trades reaches partial profit-taking, freeing up risk capacity.
* Or the broader market provides additional confirmation. At the moment, I'm closely watching the accumulation phase in **QQQ** and **SPX**. If either index breaks out with convincing strength—particularly SPX, which currently appears stronger—I may reassess my exposure.
Until then, my focus remains on managing **MRNA** and **PANW** rather than increasing the number of open positions.
One lesson I've come to appreciate is that risk management doesn't only determine **how much** to risk. It also determines **when not to take a perfectly valid trade**.
The journal continues.
Long