Podcast
Questions and Answers
What action should be taken if the price breaches the support level after entering a buy trade?
What action should be taken if the price breaches the support level after entering a buy trade?
- Wait for the next candle to confirm the breach
- Manually exit the trade and take a loss (correct)
- Move the stop loss closer to the entry point
- Double the position to average the entry price
What was the initial reason for entering the buy trade?
What was the initial reason for entering the buy trade?
- Expectation of the support level holding (correct)
- Anticipation of a price breakout
- Belief in the resistance level
- Desire to test the stop loss strategy
Where should the stop loss be placed in relation to the support level?
Where should the stop loss be placed in relation to the support level?
- Below the support level with some breathing room (correct)
- Constantly adjusted based on market sentiment
- At the entry point of the buy trade
- Above the resistance level for safety
Stop loss is going to be down here with some ______ room
Stop loss is going to be down here with some ______ room
Should we be in a buy trade if prices breached our support?
Should we be in a buy trade if prices breached our support?
Is the stop loss going to be down here with some breathing room?
Is the stop loss going to be down here with some breathing room?
The initial reason for entering the buy trade was because the support would hold.
The initial reason for entering the buy trade was because the support would hold.
What should be the aim of the buy trade?
What should be the aim of the buy trade?
What should be done if the price breaches the support level after entering a buy trade?
What should be done if the price breaches the support level after entering a buy trade?
What is the next candle's expected action after the price breaches the support level?
What is the next candle's expected action after the price breaches the support level?
True or false: The only reason for entering the buy trade was the belief that the support would hold?
True or false: The only reason for entering the buy trade was the belief that the support would hold?
True or false: If the price breaches the support level after entering a buy trade, one should manually exit the trade and take a loss?
True or false: If the price breaches the support level after entering a buy trade, one should manually exit the trade and take a loss?
True or false: The aim for the buy trade is to reach the resistance level?
True or false: The aim for the buy trade is to reach the resistance level?
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