Lately I've been thinking a lot about letting the profits run. How could I make the most out of a trade? Sounds like a million dollar question and maybe someone might get deceived and think that I'm looking for a universal formula/holy grail/you name it that would work for anyone and in any condition. That was not my intent...
I think picking only A+ trades here is one of the essentials as they give you higher probability to make some pips. But what are other parts of the equation here? Partial closing after reaching the first target, moving SL and letting the remaining position go? Trailing your profits? When I was placing trades before starting my journal I often found myself in a position when I only got out a small part of pips comparing to the whole move. It's similar to squeezing an orange. Why not squeeze all the juice out of it... I believe this is the area that I need to fine tune the most. Handling that could be a major step forward for me (besides demoing, demoing and demoing of course). I got some flashbacks in the last couple of days and I think I started putting the puzzles together. It already feels like a slow process but I'm going to solve this mystery
I think Adilius was wondering something similar few days ago as well...
I think picking only A+ trades here is one of the essentials as they give you higher probability to make some pips. But what are other parts of the equation here? Partial closing after reaching the first target, moving SL and letting the remaining position go? Trailing your profits? When I was placing trades before starting my journal I often found myself in a position when I only got out a small part of pips comparing to the whole move. It's similar to squeezing an orange. Why not squeeze all the juice out of it... I believe this is the area that I need to fine tune the most. Handling that could be a major step forward for me (besides demoing, demoing and demoing of course). I got some flashbacks in the last couple of days and I think I started putting the puzzles together. It already feels like a slow process but I'm going to solve this mystery
I think Adilius was wondering something similar few days ago as well...