Granted that i would have made more if i had held on till a few days later compared to the 1.76 that i got out at, it is a right thing to do for an amateur still learning the ropes. the key here is to be discipline rather than give in to the temptation of dream profits.
I saw a nice channel trade in the making and i took the plunge at 1.65. This would only consider as a C trade as i only milked 6% of profits. had i used a smaller capital i would have made peanuts and totally not worth the efforts.
Looking back at this chart tells me that if i had not be discipline enough i would be back to square one. The lesson here is that you expect that this is a channel trade and you should milk the maximum out of the channel and react to it should it viciously breakout to the downside or upside.
Come to think of it, its still in a channel, however the gapped down due to the placement news seem to mean that downside risk is large compare to the possibility that it will resume the channel.
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