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I understand a lot of traders, scale out of their positions. Its all relative. I focus on exponentially growing profits by the years and there are other traders who prefer capturing short/medium term growth.
http://img228.imageshack.us/img228/9056/eurusd2a.png
Sincerely,
GraemeIgnored
Hi Graeme, GREAT to have you back. AWE+SOME thread, I am on a second reading :-). Let me take an opportunity to thank you again for all the hours you put into it trying to impart your great methodology/mindset on us.
On the monthly Euro chart above you mentioned the benefits of holding for years at the time, but on the same chart it's obvious anybody holding buys from 2 years ago (Nov '08) or almost 5 years ago (beginning of '06) would be stopped @ B/E. I am well aware of the fact that you would diversify and closed some legs at the time, but I am still a bit puzzled. Would you leave e.g. some "buys" from March '09 go to 2500 pips in profit and let them be taken out more than a year later @ B/E ? If a trader decides to close all of the legs, the question becomes when to close remaining buy legs (left after closing some during diversification), if not waiting for B/E ?
You are quite right on your last post :"The reason is that the market moves slower than most traders anticipation vs time." I have a hard time letting go of 20 pips going to B/E..... lol, not to mention 2000 pips .... that's stratosphere for me.
I would greatly appreciate your comments whenever you find time.
Thank you