Trading Consultants Inc Discusses Closing a Trade Prior to Target
Trading Consultants Inc has two qualified traders that are assigned to each client we represent. Clients occasionally ask what causes us to close prior to a target being reached . This action typically occurs after a weekend review. The reasons are numerous but fall into 2 main categories .
- Technical charts have given a new more recent Price action
- Better options available
Here a GU trade taken on Friday mid day that stalled midway to target and after the opening Sunday night remained tight . So we decided to close and reopen 1/2 size position.
Here below the decision to close was also made but no 1/2 entry was added back We show charts in different times to suggest that trading Time Frames requires knowledge that one chart never holds the key . Successful trading requires review of several for entry and exit decisions.