Reply To: Trade opportunity?
Thanks very much! 🙂 means a lot. I really like this style of trading. Its so simple and effective.
Anyway, Another question for you. I’m not struggling too much with holding positions, I am now really starting to trust my targets etc. One thing i sometimes have trouble with is trailing stops when there is little price action to tuck the trailing stop behind. For instance, on AUDUSD today (typing this out it has now hit my original target, but i will continue with that i was going to say). I was in a position where i was able to tuck my trailing stop behind price action at the 38.2 retracement for break even. However once it was around 3:1 ratio, i sometimes get a little uncomfortable leaving my trailing stop at break even cause i would like to lock in some profit. Would you advise against this and just let the market movement give me places trail the stop, or would you lock in some profit?
It was a nice 4:1 trade as well 🙂
Cheers,
Lewis