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This week we look at student trade from Nate Wilson. He walks us through his trade on AAPL. Nate focuses on gap down at the market open to find stocks he wants to trade. It took some time for his parameters to be met for entry but after he is in the trade, he picks logical locations to cover his short.
We talk through a trade plan based on SLCA gap down alert. We plan our entry location, stop loss, and targets. This is another shining example of why we respect our stop losses and we don’t average down as this would have caused a portfolio fire.