A Setup is All that Matters

It was interesting that 2 of the 8 people I track on stocktwits had diverging entries at the same time around noon.  Bearcharts entered SLV long at 47.21 after taking profits 80 cents earlier today.  mb_willoughby, on the other hand, enter ZSL (ultra short SLV) at 13.50.  Both of them have been incredibly consistent at making winning trades.  Take a look at the yellow arrows at both charts:

As you can see, either of them could have been stopped out; on the other hand, both of them could also have booked profit.   It all depends on your own setup.  So the moral of the story is that, once you have a setup, stick with your game plan until you get stopped out or reach target.  Don’t hesitate, or even flip flop and end up getting whipsawed!

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