Talking about Recovery, here is a deeply unloved experience today.
I have a GJ L4 trade that was at +$10 yesterday (IBFX Ausie, 0.08 lots). I did consider adding a be sl to this trade but decided to leave it and let Recovery do its thing. As a rule, I find that interfering with Recovery merely means that the process takes longer.
So, courtesy of NFP, this blasted trade is now -$46, or -243 pips. Some change around, or what?
I have a similar thing going with gchf, so this time I have locked in a be +10 just in case.
This makes me wonder. Given that L3 and L4 trades are starting to ratchet up the lot sizes, should we be locking in profit at be plus a few when they are in profit?
Ideas and thoughts, guys?
I have a GJ L4 trade that was at +$10 yesterday (IBFX Ausie, 0.08 lots). I did consider adding a be sl to this trade but decided to leave it and let Recovery do its thing. As a rule, I find that interfering with Recovery merely means that the process takes longer.
So, courtesy of NFP, this blasted trade is now -$46, or -243 pips. Some change around, or what?
I have a similar thing going with gchf, so this time I have locked in a be +10 just in case.
This makes me wonder. Given that L3 and L4 trades are starting to ratchet up the lot sizes, should we be locking in profit at be plus a few when they are in profit?
Ideas and thoughts, guys?