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3-18-2025-Date Of Clip
In this snippet, Al says one could buy a small position above bar 11 then buy more once the market moves 5 pts higher and there's a bull bar closing near its high. I assume the add-on is based upon the stop location of the initial trade.
My interpretation is that what Al usually means by trade small is to trade full risk based on the stop (adjust the position size so full risk is not exceeded). However, in this situation, I assume he's meaning to trade less than full risk because if the risk is full on the 1st trade, the risk then would be exceeded with an additional trade unless the stop is moved higher, which would be an ill-advised skunk stop.
Context dictates the position sizing. In this case prices have sold off and the direction is AIS. There has been a 7 bar micro channel and the 1EL did not successfully retest the prior breakout so there are gaps. Bar 11 is a stronger bull bar, but it is a poorer buy signal bar because the move began at 10, which is a doji. So, one is technically buying in a potentially bear trend, and the prices may mean revert because of the far distance from the ema. However, this is potentially a bottoming wedge 3,6,10 and at the beginning of the day may be a reversal (50% of strong moves on the open reverse).
This means that the initial buy is only for a scalp, because the market is AIS right now, and maneuvering room may be needed. At this juncture the probability of a swing is less than a MTR because of lack of bar count and bulls may not have done enough work. Because of the beginning of the day, additional flexibility is required.
The higher probability trade is to wait to see if bulls come into the market first and can break above 9. Also, there is good possibility of a retest for the 9 close bears beginning at the 20 ema for a reversal.
So, if one decides to buy, it has to be a small position to counter the lower probability until bulls can assert more leverage.
Hopefully helpful and good trades to you!
