Risk Management Pt. 2

I’ve attached a clip from a stream where I talk more about execution in regards to risk management. I’ve also shared some additional thoughts below

Never forget which time frame you are trading.

Silver looks ridiculously bullish on the weekly - I'm very confident it will do well next year

Does it mean you can go degenerate size an entry on the first dip and hold it into retirement? No!

It could go back to $20 with a wick into $19 on the weekly chart and still look good. As it's very difficult to time these perfectly... simply accumulate on dips, TP partially on pumps...

The higher the confidence, the wider the stop... as your EV will come from the win rate more than the R:R... if your EV is high and you have conviction you can increase risk, that's okay.

The big mistake inexperienced traders make is increasing the sizing with too tight of a stop on a high conviction trade. Only to get wicked out, but because conviction is high they have no hesitation instantly buying back higher after getting stopped out... Why did you have a stop placed there if you didn't consider the idea invalidated? And of course the more conviction, the more your ego refuses to miss the trade, making you instantly fomo back. Imagine being super confident an asset will pump and still manage to miss the pump? Unacceptable, your ego will say. And that's how, ladies and gentleman, you end up getting chopped a few times only to see the asset you analyzed perfectly, go to the moon... without you.