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In today’s first example we take a look at the SPY on the 5 minute. We poll the students to find out which direction they are leaning. We get a split answer so Clay decides to setup two different trade plans. This provides another shining example of why we trust and abide by our stop losses as our long side trade plan completely fails by many dollars. This leads to a good conversation about why we stick to the rules and how one trade does not mean the next trade will have a similar result. This is a job where you have to accept when you are wrong. You can not push your will on the market. It is much bigger than you are.