Hi all, I'm new to the factory so I apologise if me question has already been dealt with in the past.
I'm relatively new to FX trading, after 2 months of practising on a demo account I have opened a mini and been doing ok for the past month (although obviously demo accounts are very different from live ones).
I'm interested in knowing how the experienced traders are place their stop losses. And if you change the stops in relation to your $profits/losses for the day.
For example- you start the with long S/L then as your profits grow during the day do you shorten your S/Ls?
Thanks
I'm relatively new to FX trading, after 2 months of practising on a demo account I have opened a mini and been doing ok for the past month (although obviously demo accounts are very different from live ones).
I'm interested in knowing how the experienced traders are place their stop losses. And if you change the stops in relation to your $profits/losses for the day.
For example- you start the with long S/L then as your profits grow during the day do you shorten your S/Ls?
Thanks