Thursday, March 5, 2020

Decision: VG


I'm taking a look at the pre-market numbers on the indices and some stocks and things are not looking good. By the looks of it most stocks will be down on the open and might be weak throughout the day. Disappointing.

My VG position is doing quite well. My plan is to not sell it because it has not yet criscrossed the short-term moving average on the 10m timeframe. I am above 1x risk now so I have moved my stop up to break-even. My expectation is that I will get stopped out in the morning session because of the weak numbers shown here as of 8:23am :

 As you can see, things are not looking good for the bulls. One option is for me to take whatever profit I have and just go with it. But in doing so, I'm introducing another variable to my "system" which I don't really want to do because I want to keep my trading as simple as possible. Hence, I am willing to live with being stopped out at breakeven or coming out with a small loss. Only time will tell if this is the correct decision to do not only in this trade but in the many others that will follow.

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