I am thinking about this. I have for example now GBPJPY sell, TP at 145.27, sold at 146.34.
My TP is at support level, it might be strong support. It has been testing lower price at july 24 and 21. But what if this time it does not reach my TP and then takes my trailing stop, and I miss much more profit because I was having discipline and waiting.
Bottom red line is TP, middle red line is trailing stop.
So I might loose this gap of profit if the price does not make few points left to hit. I win few more points, but I risk much more. So maybe I should be taking profit now and not risk?
Another option is to set minimal trailing stop. But price moves up and down constantly, so I am not fan of the minimal trailing stops, it feels like if it can reach that trailing stop, it will when I would use real money. maybe broker will cheat on me and will try to make me less profit
My TP is at support level, it might be strong support. It has been testing lower price at july 24 and 21. But what if this time it does not reach my TP and then takes my trailing stop, and I miss much more profit because I was having discipline and waiting.
Bottom red line is TP, middle red line is trailing stop.
So I might loose this gap of profit if the price does not make few points left to hit. I win few more points, but I risk much more. So maybe I should be taking profit now and not risk?
Another option is to set minimal trailing stop. But price moves up and down constantly, so I am not fan of the minimal trailing stops, it feels like if it can reach that trailing stop, it will when I would use real money. maybe broker will cheat on me and will try to make me less profit
Attached Image