$CL Crude oil hit my stop-loss last week, costing me $4,100.
I entered around 94.5 and added to my position around 97, then it shot straight up to 101.
I just didn't dare add more. If I had, I would've broken even when it came back down to 97 yesterday.
If you got the trade direction wrong, you really shouldn't average down—you can only cut your losses.
Now it's back at 101, and I don't dare enter. Let's see if it can spike up near 105.
You guys could try placing a limit order. If it gets filled, you can hold on to it.
I entered around 94.5 and added to my position around 97, then it shot straight up to 101.
I just didn't dare add more. If I had, I would've broken even when it came back down to 97 yesterday.
If you got the trade direction wrong, you really shouldn't average down—you can only cut your losses.
Now it's back at 101, and I don't dare enter. Let's see if it can spike up near 105.
You guys could try placing a limit order. If it gets filled, you can hold on to it.