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Why Stop Loss Is Important ?? EXPLANATION : This is a 15 min time frame chart of EURGBP . It has formed Descending triangle pattern , after seeing this formation I take it early entry and Sl kissed me . Price moves in opposite direction of my Analysis , Now what can I do ?? Respect your SL , No revenge trading , No over trading , Find another opportunity , No gambling . This all things keep in your mind , If you want to be successful trader . Psychology matter :) Lesson : Trade with confirmation Ideal entry : Breakout & Retest , when support become resistance
by pranavnanavare
1
DABUR: Swing TradeDABUR : SWING Pick! Method : Simple Channel Breakout. The bottom line is called the Basic Uptrend line & the upper secondary line is called the Channel line. The failure to reach the bottom end of the channel is often an early warning that the upper line will be broken, usually indicates a strengthening trend. Risk Management : Risk only 2% of your trading capital. Buy 30% of your position at CMP and wait for the pullback, if the price respects the level of 590 then execute your 70% position. Mindset: Note= Trade with probabilistic mindset, no matter how much analysis you do there is always a 50-50% chance. Our main objective is to '' Cut your losses short and let your profits run.'' Remember to be profitable you don’t have to be right every time, you just have to be right big and wrong small .
NSE:DABURLong
by Indrajit08