One of the things I’ve worked the hardest on in my career is doing more of what is working and less of what is not. It’s amazing how once we get into a trade that’s not working we find reasons to stay in that trade and it takes our focus away from other trade setups that may be working better. We end up committing a lot of mental and actual capital to losers when a trade is not working out. I’ve learned to quickly get out of the trades that aren’t working the way I envisioned and allocate that capital to trades that are working out well. Recently I talked about how I was long Crude Oil and Ethereum. The Crude Oil trade was just not working out the way I planned so I covered it before my stop was hit and I allocated that risk capital to a trade that was working exactly how I envisioned…Ethereum. I expanded my risk on this trade…pressing a winner. I explain more in the video, looking forward to reading your comments 🙂 Cheers, DELI
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Develop Your Edge is a weekly YouTube show hosted by 22-year futures veteran and CME member Anthony Crudele, an ex-pit trader and one of the first to trade the E-Mini S&P. Each week Anthony and his guests discuss what they are doing to Develop Their Edge in trading futures! Past performance is no guarantee of future results.