by simpleforex » Mon Apr 04, 2011 5:24 am
[quote="il brigante"]Went long nzdjpy, locked in 5 pips.
Simpleforex, I would like to ask the following question if you do not mind.
When you have a small amount of risk like 15 to 20 pips, do you move your S/L once you gain the risk, or do you wait a bit more to give the trade a bit more room?
I thank you in advance.
wait a bit more, give it more time to see a strong move in the direction of your trade before you move sl to B/E and then start to continue locking profits. you dont want to get stopped out too soon only find the market move in the direction you anticipated originally ...if this happens, you are on the sidelines wishing you had not moved the SL to BE..bugger!