DislikedIMO...
how many times has this happened vs. getting a trade and catching the 'big fish'?
prolly more often. with that being said, i like to take some profit off the table because u never truly know when u will catch that big fish until after it happens. depending on price action, i will take 6-12 pips (I am trading mostly E /J) cuz most of the time a bird in the hand beats 2 in the bush so i will close out some or all of the lots dependng on price action and strength of the trend/momo.
since u should be able to catch the small fish more often than the big fish, the pips will add up.
trading multiple lots makes it easier because u dont have to decide whether or not to hold or fold the entire position.
certainly when momo is lo, i take the money and run.
it takes time of watching the mkt pair to have a good feel of when to hold or fold.
i do watch pivots on another chart (something Imran said he will be incorporating in the future) and i do use the fib levels from time to time.
I pay attention to what the porice action is like around these levels.Ignored