CADCHF daily stop loss, no win no loss, this trade costs 5 days, and break even. There are many times to win, should I wait till stop loss? I follow the rule in post#1, and stop loss is the low of previous two bars. {image}
Many ways to do it, either you break it down to multiple entries and take some off and move the rest to break even so you have secured some profits and the remainders run risk free or you can enter one entry but trail it after it moves certain pips. Both approaches are the same. Run it through a simulator after you firmed up your rules in money management after you worked out which way gives you a better ROI, then follow it diligently.
Money management is a big topic. Usually it’s up to the traders as to how they want to do it hence don’t usually see much in public forum, but it’s usually make or break when it comes to trading. If you have taken some profits off from this trade you’ll have more in your account, not just the amount will add up but also to avoid unnecessary losses when the FU candles pop up (very common in fx)
Hope it helps and you don’t find me long winded. Happy trading nonetheless.
Full Time Funded Trader. Occasionally drop by FF. Expect a delay in reply.
