Trading on "Instynct" (NQ)

back for more pain yes...previous stop is cancelled and waiting to see where I'll place it, over 70 most likely as that was a bad place at 69.25...bad entry location as usual, but need to realize if i'm working this is just how it might be sometimes. I am sticking with the trade as mr market is really having a hard time staying above 1200...
 
i'm always faced with the decision in a trade like this, do I cut my loss now and realize it was a bad entry location and wait for a better one or stick with it because it might turn here? I feel its down so even if I cut out now I would still look to short.

Any advice from the pros?
 
Quote from killthesunshine:

S 65.25

ST 71

good to see you back Inks!
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scratching this trade and flipping L

this is heading higher short term

wouldn't be surprised if we see 70 over next 1/2 hour.

L 65.50

ST 57
 
yeah euro looks to be turning...not good for me...will close as well if we can't dip below 1200, won't go long though, just close out.
 
Quote from inks2002:

i'm always faced with the decision in a trade like this, do I cut my loss now and realize it was a bad entry location and wait for a better one or stick with it because it might turn here? I feel its down so even if I cut out now I would still look to short.

Any advice from the pros?
More...

Your entry is irrelevant, imo, the only thing that matters is what you think will happen from HERE.
 
Quote from inks2002:

very true, the market could give a crap where I entered...
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if the reasons I enter a trade are no longer valid because of changing conditions, I exit. and Re-evaluate.
 
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