I have to say that MCS did an amazing job this time too .
Since we entered there has only been a small drawdown on January 20th, and then it decided to reverse the trend, or at least make a nice pullback, and we are sellers on the highs!
Now we have to do something that for many will be incomprehensible, others will certainly not, and finally the last will accept it because they know how certain portfolio management works.
We need to set the Stop Profit just below our Entry Point.
We need to secure this trade, and assume that I am the first to want to see a profit go to target, but we need to save our buttocks from a hypothetical reversal of the reversal and a resumption of the primary trend.
You have to think: If I go to Stop Profit I have not lost anything. This is the winning mentality, I push when there is a need to push towards the target and I also accept the cancellation of my analysis without losing anything, indeed earning a few pips.
I close the parenthesis on the mindset and insert the Stop Profit at 85.50
Since we entered there has only been a small drawdown on January 20th, and then it decided to reverse the trend, or at least make a nice pullback, and we are sellers on the highs!
Now we have to do something that for many will be incomprehensible, others will certainly not, and finally the last will accept it because they know how certain portfolio management works.
We need to set the Stop Profit just below our Entry Point.
We need to secure this trade, and assume that I am the first to want to see a profit go to target, but we need to save our buttocks from a hypothetical reversal of the reversal and a resumption of the primary trend.
You have to think: If I go to Stop Profit I have not lost anything. This is the winning mentality, I push when there is a need to push towards the target and I also accept the cancellation of my analysis without losing anything, indeed earning a few pips.
I close the parenthesis on the mindset and insert the Stop Profit at 85.50
TheCyclicalTrading.com