Why I Made a GREAT Trade… and Sold Early

– One of the biggest things about being a consistently profitable
trader is managing risk and making smart choices. Sometimes you see that perfect side up, but life gets in the way and
you stop out of that trade. Today I’m gonna talk about how sometimes life gets in the way. (loud heavy beat music) Hey, everyone. Lead trainer with
StocksToTrade, Tim Bohen, here and be sure to subscribe to our channel. We put out a bunch of videos every week and also make sure to
hit that alert button. I want you here every
time a new video hits and especially when we go live. We go live every week breaking
down the trades of the week, breaking down set-ups, charts, et cetera. I want you there live, so hit that alert button. So, today on my screen is a could of, should of, would of type set-up and you know something
about day trading is staying agile and making smart decisions consistently over time. The biggest thing you
wanna do is manage risk and not put yourself in that situation where you take that punishing loss. So, ARQL is a stock. You can see it gapped up on high volume, big move gapped up from six to eight and had been steadily uptrending. This was the stock we were
in in StocksToTrade Pro and as it closed near the
high of the day at 10, I ultimately ended up
stopping out of the trade for a small gain because
of the fact that I knew I had to fly later that day. It’s frustrating. I even actually, funny thing, I posted a Ned Stark “Winter is Coming” meme to the chat room in StocksToTrade
Pro about thinking that. I was like, man! I think I’m gonna regret
exiting this trade here, but I made a smart decision. If you’re on a plane, you know, yes – planes have Wi-Fi, but it’s very sketchy. Sometimes you get a delay. Sometimes you’re on the tarmac. You can’t manage your risk when
you don’t have connectivity and we trade some of the most volatile stocks in day trading. The smartest decision
is to exit that trade, lower your risk, go into cash and know that you won’t
take that punishing loss. Now, hindsight’s 20/20, which you can see the stock
continued to grind higher for three, four days. I actually flew three days ago. Three green candles in a row. You win some, you lose some, but that still means you manage your risk, make smart decisions. Smart decisions over time
whether it be in trading or in life will pay you dividends. So, have you ever had to
exit a trade that you’ve had where high confidence was gonna work because you had to do something else? Let me know in the comments below. (upbeat guitar music)
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8 Replies to “Why I Made a GREAT Trade… and Sold Early”

  1. Yep, the number 1 goal is to live to trade another day. For all we know, ARQL could have gotten some bad news and the stock could have started trending downward while you were on the plane. The market does what its going to do regardless of your plans, and you need to be ready for any scenario. Thanks for the vid Tim, always appreciated!

  2. Yes I have and there's also been many times when I should have but I was trying to save a day trade and instead of getting out with profits and burning a day trade I took a loss. Only reason I didn't take it was to save the day trade. I don't do that anymore

  3. Tim, please make a video on TD Ameritrade now supporting $0 commissions! We all know about Robinhood being a pile of shit with execution and a lot of fine print stuff, but this sounds promising!

    (Still skeptic though as all the details aren't out until October 3rd)

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