This question is primarily addressed to profitable traders who understand how the major players move the price around.
I now know enough how to pick the reversal at swing points, but that understanding alone is not enough if you don't know how long that move will be sustained for. Sometimes it's a short swing. Sometimes it's a long seing. One way of knowing that: it depends on news release. The bigger the news, the bigger the possible movement. They help to propel the swing move. But on a clear day, I find it difficult to determine an optimum TP. My TP is arbitrary. And although they are quite often hit, they are not optimal TP. Price often goes much further than my TP. And I'm not confident enough to trade from one swing to another, yet.
So really the question is: What stops you from closing your position early, say at +49/+78 pips? What makes you stay in the market, knowing that your 100/200 TP will be hit? What understanding do you have that makes you confident to do that?
And if you understand my question, I can easily tell that you wouldn't simply say "just use Trailing SL". The market is designed to hit your SL and Trailing SL. I myself only use manual jump SL. But without the answer to the question above, it would be useless.
I understand if you don't want to post your answer here. So a PM would be nice too.
I'd love to sincerely thanks those who answer my question. It's been buggin me for a while.
I now know enough how to pick the reversal at swing points, but that understanding alone is not enough if you don't know how long that move will be sustained for. Sometimes it's a short swing. Sometimes it's a long seing. One way of knowing that: it depends on news release. The bigger the news, the bigger the possible movement. They help to propel the swing move. But on a clear day, I find it difficult to determine an optimum TP. My TP is arbitrary. And although they are quite often hit, they are not optimal TP. Price often goes much further than my TP. And I'm not confident enough to trade from one swing to another, yet.
So really the question is: What stops you from closing your position early, say at +49/+78 pips? What makes you stay in the market, knowing that your 100/200 TP will be hit? What understanding do you have that makes you confident to do that?
And if you understand my question, I can easily tell that you wouldn't simply say "just use Trailing SL". The market is designed to hit your SL and Trailing SL. I myself only use manual jump SL. But without the answer to the question above, it would be useless.
I understand if you don't want to post your answer here. So a PM would be nice too.
I'd love to sincerely thanks those who answer my question. It's been buggin me for a while.