Question - When to close position?

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 hate to be a pest....

But doesn't somebody have some advice on this?

Hi loujill

I am new to this system but since nobody else is going to answer you I will tell you what I do.

Since Mouteki says to move your stop once you gain 40pips to a point where you have a 10 pip gain, I will do that and see if profits will run. Since I started trying this system I have had two stop outs both in profit with 10pips. In my eyes Mouteki's stops work.

In my opinion on how to deal with price flowndering around and not really going anywhere you should use your knowledge of price action to determin if to stay in the trade or not. I use the old saying "when in doubt get out". Meaning that if you have know idea what price is doing then try to get out with some profit or minimal losses.

Hope I helped