Certainty:
- SL1 - Low certainty
- SL2 - Good Certainty
Risk-Reward:
- SL1 - Really GOOD
- SL2 - Medium
I have a position with the first SL which makes it More aggressive. If my Count is correct then hitting the SL1 the position will be still valid but not certain so no need for it.
If you take the more conservative approach use the SL2 or make a combination.
If everything goes as planned, when we take profits we flip the position.
I'll keep you updated.
The certainty is low keep your risk low!
- SL1 - Low certainty
- SL2 - Good Certainty
Risk-Reward:
- SL1 - Really GOOD
- SL2 - Medium
I have a position with the first SL which makes it More aggressive. If my Count is correct then hitting the SL1 the position will be still valid but not certain so no need for it.
If you take the more conservative approach use the SL2 or make a combination.
If everything goes as planned, when we take profits we flip the position.
I'll keep you updated.
The certainty is low keep your risk low!
Comment:
Trade active:
So far, So good.
Now we eliminate the Risk. Put the SL at Break Even and we will see how the price action will be these days.
Most importantly we are TIGHT, Protecting our hard earned capital.
Good Luck, Trade Well
Now we eliminate the Risk. Put the SL at Break Even and we will see how the price action will be these days.
Most importantly we are TIGHT, Protecting our hard earned capital.
Good Luck, Trade Well
Trade active:
This Chart isn't clear at all, so the certainty is lower now. You can put SL to BE or cut a part of the position, we might go higher and form a Diagonal or we might not.