Hi guys, I was wondering what would be a good TP if i am trading off of the 1 hour charts. Too many times have I been in profit and it has been wiped away because I thought the gbp/usd or eur/usd would continue in one direction based on the indication. I have seen the pairs go about 40-50pips or to the next S/R level and then reverse. I am under the inpression that the pairs will move about 100 pips. Basically how will I know that the pair is ready to go at least 100 pips or do I have unrealistic expectations. I want to get better so if some one can help me set a goal. I would appreciate it. I think that seeing people get sometimes 80pips or more in 1 trade tempts me to stay in a trade even though I know it might be wrong and has not hit my stop yet. My concern is I want to ride the trend until it is done and not panic or is the exit strategies mostly based on a target goal.
Thanks so much. Oh, I will start posting charts very soon when I get my bigger screen.
LASTLY: keep in mind that I have only been trading this system this week and some of the previous week. So, my expectations may or may not be accurate.
Thanks so much. Oh, I will start posting charts very soon when I get my bigger screen.
LASTLY: keep in mind that I have only been trading this system this week and some of the previous week. So, my expectations may or may not be accurate.