Trading is as simple as 1-2-3

Quoting Hugo55

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{quote} I hope you don't mind me asking. When you say +5 locked, 1. Does that mean that you wait for price to go 10 pips in profit and then trail a 5 pip stop and that way get 5 pips locked? 2. Or do you have say 2 lots on and then close 1 lot when 5 pips in profit? 3. Or do you simply close the position if you get +5 pips?

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Quoting hal7

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{quote} I have done each one of these methods over time. The +5 locked simply means that is my action point usually. I have taken a percentage off the trade which I would vary. I generally would keep my original stop in place which is +5 above the high on shorts and +3 below the low on a long. Another approach is moving stop up to BE +1 in reaching the +5 leaving my original trade size. When I move past +10 I will often put on a trailing stop and may in increase that to +20 if it continues to move.

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Quoting hal7

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{image}Long GU +5 locked

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Quoting birdland

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{quote} that bar was too tempting;-) {image}

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Quoting hal7

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{quote} Not going to say lucky, but sometimes we fall into them, or in this case rise +50

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Quoting Iconfx

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Is this according to the 1-2-3 rule? {image}

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Quoting Iconfx

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very dangerous in case of trending mockups, because this seems to go against the direction. {image}

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