The most important principle I just learned recently is:
If your direction is correct, don’t set a take-profit target. Instead, periodically move your stop-loss up (when going long) or down (when going short). You can also use your stop-loss to lock in profits. The wind is picking up—let the bullets fly and see how far this gust can take us. Not setting take-profit can lead to so much more profit.
I was just too hesitant—hesitation makes you earn less, and it makes you lose.
I learned again: every time I learn something, it’s the tuition fee for a new round of big gains—so expensive.
$SNDKB
If your direction is correct, don’t set a take-profit target. Instead, periodically move your stop-loss up (when going long) or down (when going short). You can also use your stop-loss to lock in profits. The wind is picking up—let the bullets fly and see how far this gust can take us. Not setting take-profit can lead to so much more profit.
I was just too hesitant—hesitation makes you earn less, and it makes you lose.
I learned again: every time I learn something, it’s the tuition fee for a new round of big gains—so expensive.
$SNDKB