Disliked1. I never add to a position because I can add to a losing position. And then their is the emotion of greed if it goes well and then you risk more than 5% of capital.
2. If you risk 3%-5% of your capital on a single position you cannot add to it as you will not survive bad times.
3. You can only add if your risk is below 3% of your capital.
4. When the price goes above the 89SMA and it pulls back to around the 21EMA and then goes up above the previuos high and the resistance is way above I consider it as a trend and if I have an open position I will try to stay in it till the 21EMA is broken.Ignored
Your repl to both of my postings (where to find thread tools and how to recognize a trend) are great.
But, once, at the first posting of this thread you said your english is not good. I wonder why you made that modest statement. Hereis the reson for my wondering:
Youur English is not just good, it is PRECISE for a trader! In your previous reply to my question about how to identify a trend you said
" When the price goes above the 89SMA and it pulls back to around the 21EMA and then goes up above the previuos high and the resistance is way above I consider it as a trend and if I have an open position I will try to stay in it till the 21EMA is broken."
I have highlighted the fourcise words that ave used to give correct information. This I call not just good English, but precise English.
Thanks a ot.
-Chandra