Thanks Jim
Yeh I had my TP at 158.30, about 13 pips below the lowest previous high/low bars. Think I should have considered the round number. Also if I'd left my initial stop in place my TP would have been hit yesterday.
Positive is it didn't turn into a loser.
Definately going back thru my trades and formalise my trade management.
Will look at the secret break bar stop loss, too!
Trading plan (work in progress), finding that most templates are more complex than i'd like, so i need to try and simplify this as much as possible, as you say "the best plans are short and simple".
I think with all the levels of traders posting here it's quite easy to get ahead of ones self. A typical newbie thing, I guess.
Thanks again
Gov.
Yeh I had my TP at 158.30, about 13 pips below the lowest previous high/low bars. Think I should have considered the round number. Also if I'd left my initial stop in place my TP would have been hit yesterday.
Positive is it didn't turn into a loser.
Definately going back thru my trades and formalise my trade management.
Will look at the secret break bar stop loss, too!
Trading plan (work in progress), finding that most templates are more complex than i'd like, so i need to try and simplify this as much as possible, as you say "the best plans are short and simple".
I think with all the levels of traders posting here it's quite easy to get ahead of ones self. A typical newbie thing, I guess.
Thanks again
Gov.
DislikedI always low ball my targets. Meaning I go for nearest areas of the target. If, for example, I was short and I was looking to come down on my target say a nice round number like .6300 I would take .6305 or .6310 as target hit.
Writing out your trading plan is a great exercise on many different levels.
Maybe write one out and place it on this thread. You will get a lot of different eyes looking at it and it will prbably help many others as well. The best trading plans are short and simple.
JimIgnored