SBIN: Positional & Swing Pick!!!
Method:
Symmetrical Triangle breakout.
Risk management :
Enter 30% of your position at CMP, if the price respects the level of 425 then execute your 70% position.
Place your stop loss below the recent swing low, at 416
Go for risk-reward of 1:2
The key is capping the downside risk when you’re wrong, but leaving the upside profit potential open. Remember to be profitable you don’t have to be right every time, you just have to be right big and wrong small.
Mindset:
THINK LIKE A TRADER
Trade with a probabilistic mindset no matter how much analysis you do there is always a 50-50% chance of trade to work.
TIP= Get in the habit of focusing on your trading system and following the process for
entries, exits, and position size, rather than the money you are making or losing
at any particular moment.
Method:
Symmetrical Triangle breakout.
Risk management :
Enter 30% of your position at CMP, if the price respects the level of 425 then execute your 70% position.
Place your stop loss below the recent swing low, at 416
Go for risk-reward of 1:2
The key is capping the downside risk when you’re wrong, but leaving the upside profit potential open. Remember to be profitable you don’t have to be right every time, you just have to be right big and wrong small.
Mindset:
THINK LIKE A TRADER
Trade with a probabilistic mindset no matter how much analysis you do there is always a 50-50% chance of trade to work.
TIP= Get in the habit of focusing on your trading system and following the process for
entries, exits, and position size, rather than the money you are making or losing
at any particular moment.