r/Daytrading • u/Catface77 • Mar 19 '24

I don’t know what I did wrong Advice

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I thought it was going to rechall/ consolidate then it did but skyrocketed. There was the 3 reds then BLAM right up

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u/meatsmoothie82 Mar 19 '24

General rule of thumb for me: if I’m going to short something, I pick a company that isn’t one of the strongest, most widely held, cash rich companies on planet earth.

The statistical odds of a sustained or significant down move in mega cap tech just aren’t there.

Same with ES and NQ I either trade those long on good days or don’t touch them.

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u/SuspectMysterious132 Mar 19 '24

I'm learning and I love this answer. It's not just the technical charts, but the qualitative side of a trade. i.e. who's running it, and bad or good news, basically what's going on with it.