There's no perfection in trading
I've come to accept that there's no perfection in trading. A well thought out trade can still result in a loss, but the decision-making behind it can still be solid.
the next level one could elevate/grow towards - as quallamaggie have always said, "u gotta grab your balls and re-enter the trade". I have ever stopped out the same trade on 3 attempts in a week before the 4th attempt yielded me a 50R winner. alot of conviction in trading comes from your own experience to explore what works and what doesn't.
PS: $Direxion Daily Retail Bull 3X Shares(RETL)$ has no re-entry opportunity since it gapped up huge on Monday's open, i only enter trades on the most optimal condition and price action.
Not often you get chance to add size into an existing trade if you are waiting for new setup emerge, but i feel more comfortable this way than to add on chasing the price up blindly without a proper consolidation or pullback. you will be pull up your average price much quicker than the 10-MA is pushing its way up.
how i add,
1. existing position with new setup emerges below 4 x ATR% from 50-MA
2. new add to size are capped below 50% of existing size (that existing size have already shave down via 33% partial profit)
3. re-adjust breakeven stop because you will have a higher average price to the consolidated position
i manage the whole trade as a singular trade, not two.
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