I would like to seek comment from experts here. I follow this method.
1. Cut loss if price drop 10% below my cost.
2. Take profit if price pull back from peak.
% gain pull back take profit
10% 3% 7%
20% 5% 15%
30% 9% 21%
This is the chart.
Please help comment if this an effective approach. Any improvement ?
Thanks in advance.