DislikedHey Kumo I may have missed it but I am curious as to when you start to lock in profits or move to break even when a trade is going in your favor.Ignored
But, I watch round numbers, (00 &50) levels, and retracements and S&R to the left. To watch those I have a plain chart up with nothing on it but round numbers.
So, in a good short move as in to day. I'll lock in pips after it passes a round number and after a retracement on the 5M.
BE is trickier. I usually put SL at BE if a trade is in the postive and is approaching S&R or a round number and I'm not sure if it's going to rebound and go past my entry. I try to never let a winner turn into a loser. This is usually about 20-30 pips, if the trade took a while to get that postive, which means it might not be that strong.
If I get stopped out at +20-30 (or BE) and the trade keeps going my way anyway I can always get back in on the next retrace if I think it still has gas.
If price zooms past 20-30 relatively quickly I don't worry about setting to BE unless I can't be by the comp at that time. But if it gets past there quick, It's usually time to start locking in postive.