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Re: Trades - Technical Question/Insider

As much as it is a threatening position being that price has pulled back to support, as long as support is holding it is what it is "support." And even then only a two day close below that support would suggest to me that support was broken and now resistance so exit. Weak internal indicators also affect my level of confidence in price holding at support. I try not to get spooked out of the position. But if it keeps me awake at night I'll just unload 1/2 the postion which reduces the anxiety and allows me to relax and just trust the support on the chart until proven otherwise. Or if I can make better use of the money I just exit the position using the theory "When in doubt get out." I often do that as well as sometimes there are better fish to fry elsewhere. Some support levels have been tagged a few times and are weak technically such as NEM that recently broke down after bouncing off the same support level several times. A double bottom support is more likely to hold than multiple tags of the same price point. To me preservation of capital is always Job #1. And I often exit a postion that would have been profitable had I accepted some drawdown. I just don't hold losing postions so lose a little often. I can accept that and am not trying to be right about the trade. Odds of a successful trade change as the price changes. That's how I look at a trade in any case..................................

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Re: Trades - Technical Question/Insider