I always do the same & it usually works more often than it doesn't; but thats not the point
What is important is to cut the losses & let the winners run. In a world of 50/50 probability. There are four outcomes to a trade. a big win, a big loss, a small loss and a small win. If we can eliminate the big loss; the small win/loss will even themselves out. And we are left with big wins. Here is an example of letting winners run. Although I admit I Closed full position at Profit target 1 & did not let the winner run all the way to the end. Why? a bullish market influenced me, possibly a mistake but thats fine. this is why I document my trades so I may learn along side the reader.
SET UP
. the (W) is in downtrend
. Long-term(M) in downtrend
. price correcting to Lowest High of the (W) downtrend
ODD ENHANCER
. over buying momentum into qualified (SZ) thats also the Lower High of (W) downtrend
. general market in downtrend
. Supply Zone (SZ) never been tested before
What is important is to cut the losses & let the winners run. In a world of 50/50 probability. There are four outcomes to a trade. a big win, a big loss, a small loss and a small win. If we can eliminate the big loss; the small win/loss will even themselves out. And we are left with big wins. Here is an example of letting winners run. Although I admit I Closed full position at Profit target 1 & did not let the winner run all the way to the end. Why? a bullish market influenced me, possibly a mistake but thats fine. this is why I document my trades so I may learn along side the reader.
SET UP
. the (W) is in downtrend
. Long-term(M) in downtrend
. price correcting to Lowest High of the (W) downtrend
ODD ENHANCER
. over buying momentum into qualified (SZ) thats also the Lower High of (W) downtrend
. general market in downtrend
. Supply Zone (SZ) never been tested before