HiSold at 1.2980 with sell limit order - still holding the position. I am thinking about pyramiding - I wonder what Sive thinks about it (pyramiding) and current situation.
Sold at 1.2980 with sell limit order - still holding the position. I am thinking about pyramiding - I wonder what Sive thinks about it (pyramiding) and current situation.
Hi
Something I read recently that has struck home is that many traders have a tendency to try to 'hit home runs' at every opportunity . The author made the point that this often led to a trade that had a decent profit turning in to a loser because the trader was seeking more than was available from the trade.
I have certainly been guilty of that in the past.
I won't advise you on what to do but my intention is to take a part profit at a 'logical profit objective' and tighten my stop loss to breakeven as soon as it is safe to do so. If the price retraces up and then indicates a sell again I will probably add at that point but only within the bounds of my risk management.
All the best
Michael
If we will not go below 1.2795 and get a pull back to 38% atleast
then again we shud get a buy butterfly...
View attachment 9406
Hi Sive!
I totally agree with the bearish view on Weekly time frame. The one thing that I don't understand is how do you determined the target at 1.275 area?
The Bearish SG on Weekly already reached the target at 1.2955 in the same bar when it was confirmed.
Thank you!