I went long on USDJPY late last week and now I'm enjoying watching it run up tonight I closed out half my position this evening to preserve profits and set a trailing stop at 20 pips. But I had no idea if that was a reasonable level.
How can I determine a good distance for a trailing stop? Is there any rule of thumb or does it depend on the situation?
Dang I'm getting addicted to forex.
Squid
How can I determine a good distance for a trailing stop? Is there any rule of thumb or does it depend on the situation?
Dang I'm getting addicted to forex.
Squid