I have a simple trade set up here for you guys. After some hard lessons and some tough losses, I feel as if I've become a phoenix rising from the ashes. I've been far more clear headed in my trades, and I've been increasingly success, all due to a change in perspective, and a minimization in risks. I was always fearful of being risk averse, because FOMO is tough, but I've learned to suppress this for very attractive consistent gains, that are far more realistic than this pipe dream figures of 100s of percent that I and many others chase after.
Instead of trying to avoid taking profit at certain points, take my advice and start enacting this practice- this profits you think you're "missing out" on will come back, I promise you. While you COULD have gained more had you stayed fully in the trade longer, you can use those profits to buy dips. Make sure your profits are certain, rather than your losses. Don't let greed and FOMO cloud your judgement. This market is heavily manipulated, and you're not going to win, sorry to say. Play smart, and beat the game.
TP1: 9000 (10%)
TP2: 9800 (10%)
TP3: 10600 (10%)
TP4: 11600 (25-50%)
ENTRY: 8000-9000
Stop Loss: 10% below entry, or upon crossing down into the resistance (red sideways line)
TP1 is assuming that we go back below 9000. Our absolute highest entry point will be 9000, that way the risk/reward ratio remains attractive.
My advice is to profit take 10% at each target you reach, and then take 25-50% upon hitting 11600. We will likely see some pull back from there, so simply ladder buy back at each target point with the profits you took.
Instead of trying to avoid taking profit at certain points, take my advice and start enacting this practice- this profits you think you're "missing out" on will come back, I promise you. While you COULD have gained more had you stayed fully in the trade longer, you can use those profits to buy dips. Make sure your profits are certain, rather than your losses. Don't let greed and FOMO cloud your judgement. This market is heavily manipulated, and you're not going to win, sorry to say. Play smart, and beat the game.
TP1: 9000 (10%)
TP2: 9800 (10%)
TP3: 10600 (10%)
TP4: 11600 (25-50%)
ENTRY: 8000-9000
Stop Loss: 10% below entry, or upon crossing down into the resistance (red sideways line)
TP1 is assuming that we go back below 9000. Our absolute highest entry point will be 9000, that way the risk/reward ratio remains attractive.
My advice is to profit take 10% at each target you reach, and then take 25-50% upon hitting 11600. We will likely see some pull back from there, so simply ladder buy back at each target point with the profits you took.