DGB has broken the downtrend. Entering when next fib resistance is broken. Target low 200s. Partial profits can be taken at each Fib to reduce risk. Alternatively, you could move your stop up after each fib is broken to protect profits.
Trade closed: stop reached:
Managing the downside is more important than winning every time.
That's why R:R is so important. Yes, I lost a little bit on this trade, but I could be wrong 2 out of 3 times and still be turning profit, as long as I'm placing trades with an upside that is 3-5 times larger than the downside.
Ignoring your stop because you really want a W on the books and hope it might go back up is a sure way to lose money.
Happy trading!
That's why R:R is so important. Yes, I lost a little bit on this trade, but I could be wrong 2 out of 3 times and still be turning profit, as long as I'm placing trades with an upside that is 3-5 times larger than the downside.
Ignoring your stop because you really want a W on the books and hope it might go back up is a sure way to lose money.
Happy trading!