I seem to have an acceptable grasp of market trends, entry points and entry stop losses but my problem is the management of the profit position once I have survived any initial whipsaw at the entry price.
My goal is to ride the winner until I receive a sell signal from my trading program that will hopefully give me a 200-300 pip profit.
I seem to be placing my trailing stops too tight since I am constantly stopped out long before reaching my program sell signal.
I need a good balance between protecting profit and riding the winner and reaching the program sell signal. Any recommendations please?
My goal is to ride the winner until I receive a sell signal from my trading program that will hopefully give me a 200-300 pip profit.
I seem to be placing my trailing stops too tight since I am constantly stopped out long before reaching my program sell signal.
I need a good balance between protecting profit and riding the winner and reaching the program sell signal. Any recommendations please?