Hello,
I have been using the Mouteki method for a month with good results. However, my question is this - Do you let a trade ride through on the original set up until it hits either your stop or target or do you reach a point when you cut your losses or limit your gains and close the position?
For example ; You draw your trend lines and you get an opening trigger. So you enter the trade and set you stop and target. But the price messes around for a long time in between. So long in fact that you now draw new trend lines and your price is no longer in a trigger zone or worse yet, is now in the opposite!
As a concientious trader I know that you should watch every trade and react as appropriate, but I was wondering if there was a "rule of thumb" for Mouteki?
Thank you in advance for your responses!
I have been using the Mouteki method for a month with good results. However, my question is this - Do you let a trade ride through on the original set up until it hits either your stop or target or do you reach a point when you cut your losses or limit your gains and close the position?
For example ; You draw your trend lines and you get an opening trigger. So you enter the trade and set you stop and target. But the price messes around for a long time in between. So long in fact that you now draw new trend lines and your price is no longer in a trigger zone or worse yet, is now in the opposite!
As a concientious trader I know that you should watch every trade and react as appropriate, but I was wondering if there was a "rule of thumb" for Mouteki?
Thank you in advance for your responses!