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Today we interview Nate Wilson regarding his trading strategy. We first look at a loss he had to take. He set two orders, one to go short and one to go long, and waited for the market to open. After the open it rips past his 84 short sell. He added to this position twice. Nate decided that this wasn’t acting the way he wanted and started into loss mitigation mode. We see that after he stopped out at new highs the chart proceeded to grind higher which would have led to a much larger loss.
We look at another example from another ticker. This one has a nasty down move and he acquires shares at 28.01 and 27.01. This trade plays out much more normal in terms of the strategy. It rubber bands down aggressively before ultimately bouncing.
We then look at another ticker that Nate walks us through. He talks about how you need to be fast in these trades because more often than not once you get stuck in the consolidation it will grind against you.