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Wednesday, May 14, 2014

NY #1-16

A very low volume day.  It seems many traders took some early loses.  When that happens you have to trade thru them.  Keep your loses small.  Remember, when you take these setups, you want to see the trade show signs it is going your direction not against you.  If you see a candle close the opposite direction I like to close my trades unless I am seeing a reason to stay in it on the 5min chart. Keep your loses between -3,-5 including spread and commission.   THERE IS ANOTHER TRADE COMING THAT WILL PAY YOU!!!  DO NOT LOSE YOUR TRADING MIND JUST BECAUSE YOU GET A FEW LOSES!!!!!!!

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