OK
I am happy with my method for entering trades and my money management. What I can't get my head around is where to get out. I see talk of fib lines, SR lines, round numbers and MAs. By the time these are all put on my chart my average move would be around 10 pips!!
I know this all comes down to how long you want to be in a trade for and it will be different for those working from 15 minute charts and for those working from 4 hourly or daily charts, but how do you decide whether to stay in for 50 pips, 500 pips or more?
Thanks all for your help yet again
Max
I am happy with my method for entering trades and my money management. What I can't get my head around is where to get out. I see talk of fib lines, SR lines, round numbers and MAs. By the time these are all put on my chart my average move would be around 10 pips!!
I know this all comes down to how long you want to be in a trade for and it will be different for those working from 15 minute charts and for those working from 4 hourly or daily charts, but how do you decide whether to stay in for 50 pips, 500 pips or more?
Thanks all for your help yet again
Max
Gravity goes both ways in forex...