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Micah provides a good example on how to stay diversified so that you don’t feel the full brunt of a news driven event. He stayed diversified and even with an 11k loss still finished the week green.
Clay plans out a trade on the 5 minute MON chart. We get a mixed bag of students who are thinking to the short or long side. Key point for EITHER trade direction is that once you establish a logical stop and target you can NOT change them. The only thing you can manipulate is your entry to help conform to good risk vs reward. We see that this trade worked out well on the short side. Clay also discusses the importance of trailing our runners and why we let winners work for us (to extract as much profit as it’s willing to give up and to really wipe out those losing trades we inevitably suffer).