DislikedHi all, would like to share 2 successful trades that i had made yesterday. AUDUSD M15, CompRSI was above 70, relevant MTF all in green, entered the trade at the first retracement to the lower of the 8EMA at 0.6562. Entry not perfect, caught it in the middle of the channel rather than bottom. The trade moved passed the most recent unbroken high at 0.6615 and i considered closing the trade there, however as CompRSI and MTF was still showing positive signs, I decided to manually monitor the trade and I closed the trade at 0.06639 when the price closed...Ignored
How you manage trades overnight (if at all) has to be a personal decision but here are some options:
1. Take partial profit and move your stop up to let the rest run.
2. Move your stop up on the whole position to secure a certain profit.
3. Close out completely and take your profits.
4. Let it all run while you sleep.
Clearly 4 is not a sensible option but the other 3 all could be. As I said, personal preference in the end.