DislikedI put an order in to exit my trades late last night Aussie time. My reasoning was they were both pretty much range bound. I had a choice to wait it out and the possibility of them reversing back to my stops or taking out more pips at the higher end of there respective ranges. Due to the fact the EUR/USD had been a bit whippy lately, I decided to protect what I had.
Result : EUR/USD 160 pip profit. USD/CHF 102 pip profit.
Dan, when trading your method, do you ever close your trades out as I have just done or do you always stick to the method...Ignored
Congratulations on your trades!
My G/U trade closed out at breakeven. My E/U trade is still open.
Normally I will only exit a trade using a trailing stop loss however when we are stuck in heavy congestion and you are pressing up against some major support or resistance and can't seem to break it then protecting your profits is definitely a good plan!
Regards,
Dan