I used discretionary and systematic methods to get into this winning trade.
I noticed there was a strong divergence in the RSI, price kept going up however the RSI was making lower highs.
I decided to risk 4% of my capital, i will get out of my trade if i lose 2%.
Price went on to break the lower donchian channel.
My system tells me i should add more, i again risked another 4% of capital.
I will begin to reduce my position when i notice a big divergence or when price breaks the upper donchian channels.
Keep it simple!
I noticed there was a strong divergence in the RSI, price kept going up however the RSI was making lower highs.
I decided to risk 4% of my capital, i will get out of my trade if i lose 2%.
Price went on to break the lower donchian channel.
My system tells me i should add more, i again risked another 4% of capital.
I will begin to reduce my position when i notice a big divergence or when price breaks the upper donchian channels.
Keep it simple!