Hi, i'm just curious to know if somebody do what i do, example:
A good setup come, and one take a sell position, place the stoploss at 10-20-30 pips, set takeprofit, and wait to see what happen.
Well, if price go down of 5-10-15 pips, i modify the stoploss, and put it 1pip below the entry price, in this case, if price go against my position, it will be closed in profit of 1pip, if it continue to go down, i don't use trailed stop, but just look for some good point to close it or just let it run untill it reach the target point.
Advantages: it doesn't happen that a winning position become a loosing position!
Disvantages: sometime a good position is closed with only 1 pip profit, and after 5 minutes the price go down of 50 pips, but you are out of the market and don't profit from that move.
What do you think about this "strategy"?
A good setup come, and one take a sell position, place the stoploss at 10-20-30 pips, set takeprofit, and wait to see what happen.
Well, if price go down of 5-10-15 pips, i modify the stoploss, and put it 1pip below the entry price, in this case, if price go against my position, it will be closed in profit of 1pip, if it continue to go down, i don't use trailed stop, but just look for some good point to close it or just let it run untill it reach the target point.
Advantages: it doesn't happen that a winning position become a loosing position!
Disvantages: sometime a good position is closed with only 1 pip profit, and after 5 minutes the price go down of 50 pips, but you are out of the market and don't profit from that move.
What do you think about this "strategy"?