will, i am sure this is a stupid question.. when your trades carry over to the next day, do you change the s/l, and t/p to the levels of that day? or retain the value of the day of the trade? for eg:
USD Cad current price is 1.1754:
is s/l moved to today's 0.7*ATR(20) at close of day or you keep the s/l at 0.7*ATR(20) as on 28th feb, which was when i think you took the trade...
and also whether you do the same with tp.
"I now use ATR as my stop and I adjust them at the end of the day. I only move them if the trade goes in my favour. If the trade is going against me I leave the stop where it is. Generally one the first TP is hit I can the adjust the stop and lock in some profit on the second TP."
USD Cad current price is 1.1754:
is s/l moved to today's 0.7*ATR(20) at close of day or you keep the s/l at 0.7*ATR(20) as on 28th feb, which was when i think you took the trade...
and also whether you do the same with tp.
"I now use ATR as my stop and I adjust them at the end of the day. I only move them if the trade goes in my favour. If the trade is going against me I leave the stop where it is. Generally one the first TP is hit I can the adjust the stop and lock in some profit on the second TP."