In today’s update, I show a quick crude oil trade where Hawkeye V-Swarm identifies weakness in the trade. This allows me to exit with a small profit and stay out of trouble.
One of the most difficult aspects of trading is knowing when to cut a trade.
Especially when you have seen some profit and it begins to move against you (like it just did for me).
The greed in you wants to hold on to get the profit you once saw back.
Today I talk about how to know when to hold on to that trade vs when to close that trade down and put your money to work in a better opportunity.
V-Swarm Identifies Weakness
You see, volume is a leading indicator. Using volume correctly with price enables us to know the sentiment of the market on any timeframe. So when I saw Hawkeye V-Swarm (volume) showing me weakness in the trade was developing, I had time to adjust my stops and lock in profits in a trade that would have ended in a stop loss. V-swarm identifies weakness and strength in trends, so it can help improve your bottom line.
The Hawkeye Perspective
While in the longterm, the trade would probably work out (and it did), I followed my rules to stay safe and be able to trade another day. Sometimes, “you gotta know when to hold ’em, and know when to fold ’em”. In today’s example, I knew when to fold ’em and walk away.