Why few investors can multi-bagSee below, remarkable, shows the weakness of a purely technical approach - the platform has yet to leave Gdansk for crying out loud. I have long worked on the theory that most invesotrs cannot multi bag, comes under the platitude you can't go bust taking a profit. Well yes you can, the market does not oftern throw up extreme top down (oil sector) and bottom up (Ithaca) opportunites like this at the same time, important to make hay when the sun shines, years can go buy without such opportunities.
onedb1 - profits off the table:
Trade was just below 60p .
Not sure I did the right thing , my Stop Loss is still at 42p and had no real signal other than I manually took off profits due to the MACD cross about to happen and the fact that my System 1 - Trend system always sees me give up lots of profits on a steep trend . Trend systems are superb on smooth upward trends , but this trend was pretty steep, I would have preferred a much smoother trend up must say
So not sure I did the right thing but it is what I did , entries at 23.5 and 30, pretty much giving me over 100% gain , so that played on my mind too with volatility ahead and FOMC ( risk of strong dollar ) not that a TA trader should really care . Am not a robot .
Not going to dwell on it so focusing on next Long or Short , scanning for next trade now