In this week’s market analysis, I talk about the importance of knowing when you’re wrong.
Whenever you put on a trade, you have to know the point where you’re wrong. But the question is, when?
This depends on your original trade idea. If your original trade idea is invalidated, you have no reason staying in a trade any longer. But if the trade idea is still working out, then you have every reason to hold onto the trade.
I explain this with Palladium and Soybean trade which I’ve traded recently.
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