Years ago I picked up a cool rule from Pradeep Bonde @PradeepBonde : Avoid buying a stock that’s up 3-4 days in a row already.
Then as I got to find and study @Qullamaggie , he suggested the same.
Once you unpack it, it’s quite logical. The initial explosive burst of momentum is where you get your cushion in.
The risk-to-reward and asymmetry changes.
Compare buying $CRDO at the inside day off the 21, to trying it Friday.
Of course, some stocks will run 5,6,7 or many days in a row. But as a general rule, I try and avoid chasing.
@BoxTraderVK Yeah I am very much a work in progress. I have lossed more than ever imaginable💔❤️🩹 thinking sizing and jumping in a trade for sake of being a trade that might go was the solution but it is about developing a repeatable consistent process
@BoxTraderVK While I wait for my physical copy in the mail I have 3+ hours left on my audiobook best quote that hit me in my gut was from the wizard I believe Lance Breitstein said “Bad trades don’t kill accounts, Big sizing kills accounts”