The other one - exit the trade is also right.Both are valid I guess.
At least from my little understanding of ST DA's and AW10's way of trading(Day Trading) both share many similar beliefs and style.Some of them below
When the price/trade doesn't move as per the expectation - get out of the trade and you can always re enter.
When in doubt - just get out of the trade.
I usually don't allow stops to be hit.
Stop losses are to protect from unusual sudden price shocks and jumps.
I cut losses short and I cannot bear with a loss making position for more than 15 minutes and Intra day trend is more likely continue in the same direction.
When a position is in loss for 15 minutes and the stop is not hit.
Exit the trade/Reverse
I make lot of early exits and re entries.
I Don't trade/exit when markets turn dead.It could be emotionally draining.
At least from my little understanding of ST DA's and AW10's way of trading(Day Trading) both share many similar beliefs and style.Some of them below
When the price/trade doesn't move as per the expectation - get out of the trade and you can always re enter.
When in doubt - just get out of the trade.
I usually don't allow stops to be hit.
Stop losses are to protect from unusual sudden price shocks and jumps.
I cut losses short and I cannot bear with a loss making position for more than 15 minutes and Intra day trend is more likely continue in the same direction.
When a position is in loss for 15 minutes and the stop is not hit.
Exit the trade/Reverse
I make lot of early exits and re entries.
I Don't trade/exit when markets turn dead.It could be emotionally draining.
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