Hubert Senters here.
Question from a viewer. They are stating that they are long John Deere around $28.30. Closest I got was $28.28. That’s close enough and not sure what to do with it. I don’t know if you’ve got a stop-loss. I assume you do. If you don’t have a stop-loss. I highly recommend that you use one.
This is a weekly chart so I’m assuming that you got long back in here around this time. You got a nice move from $28 all the way up to $40 and then $45 and you got a little action here at $50 so hopefully you scale out a little bit of it if you haven’t.
And if you don’t have a stop-loss I would make it minimum of your breakeven, your actual entry because I don’t want to see you turn $32 or $4 worth of profit that you may still have in is trade into a negative trade. It will affect you. It will affect your psychology more than it will your PNL.
And then once your psychology goes to hell in a handbasket it’s just a downward spiral that’s never easy to get out of. So I would recommend if you don’t have a stop- loss, use a stop-loss. Maybe even slightly above I mean I’d make my hard stop probably $30 and then if you get whipped out of it you can always get back in it after it closes back above the cloud they’re on around $40 or so. I hope that helps.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
