Quoting WestieDislikedexpensive, is that some kind of joke, i didn't think it was april 1st?Ignored
I loved the info there, but I'm out for the moment, have other priorties like utility bills etc.
Bundy's status today: "Waiting..."
Where can I learn more about Price Action like those in James16 charts? 9 replies
Quoting WestieDislikedexpensive, is that some kind of joke, i didn't think it was april 1st?Ignored
Quoting moneybagsDislikedHey everyone,
This question is for Jim or for anyone who might have an answer.
When do you guys (or Jim) move the s/l to break-even during a trade?
Do you do this as soon the trade is up 10 pips for example?
Or do you close part of the position for a profit first, and then set it to b/e?
And does this stop out a lot of trades?
Because some of my trades will go into a profit (but not quite my target) then come up near the entry price or even go into the red for a while and then go back to hit my profit target. But I dunno if this type of thing happens often. So in cases like this you would get stopped out prematurely. (but I do hate seeing winners turn into losers....)
Any inpout is welcome?Ignored
Quoting GidsDislikedHi, Moneybags,
Just my 2 pips worth...
I know that Jim recommends moving your stop to 10 when your profit reaches 40 or so. Don't forget rule number 1 - don't let your winners become losers. Preservation of capital is everything. I have tried all sorts of stop approaches by step movements and trailing stops, but none worked very well. You need to believe in your method, by demo, demo, demo. Then set a reasonable stop and then move it to profit as soon as the price has advanced enough. Making enough profitable trades will make 10 pip winners okay too.
Good trading, DanIgnored
Quoting moneybagsDislikedHi Dan,
Thanks for the answer.
So just to clarify, unless price really moves in your favour where you're up 30-40 pips, the s/l isn't moved to around b.e. or +10?
Do you know if Jim recommends only moving the s/l when closing part of the position for a profit or can it be done with the whole position still in play?
Thanks!
If anyone has any input to share please feel free.
TomIgnored
Quoting PeterFMDislikedHi Tom
Jim will step in when he can, but I'm sure that as a general rule he likes to take some money off the table and then moves SL to BE+.Ignored
Quoting PipBirdDislikeddoes any1 know that maximum pip difference between that candles for a dblhc or dbhlcIgnored
Quoting goodthingsDislikedGood question I am wondering if the tolerances differ when you are looking at an hourly,daily. or weekly chartIgnored