breakout. LTI after consolidating in a pattern gave a breakout on the upside with huge .
Note- False breakouts are possible (traders need to manage risk accordingly)
My personal tip is to risk only 2% of your trading capital. Buy 30% of your position at CMP & if price respect levels of 4500 then execute your remaining 70% position.
The whole idea is to lose less money when you are wrong and to win more money when you are right.
Trading is a game of probabilities, no matter how much analysis you do there is always a 50-50% chance.
Remember that the trade we are taking is just 1 of the next 1000 trades we are going to trade. We should not get so much emotionally attached to it that we end up losing our sleep if it doesn’t go according to the plan.
By minimizing the importance of that one particular trade, we can really trade with ease and would be in a better situation to take sound decisions.
Remember to be profitable you don’t have to be right every time, you just have to be right big and wrong small.