{quote} Have you tried taking half profit instead and leaving the stop loss where it is (assuming the half profit + current stop loss if hit = break even). That way you can give the trade room to move while still breaking even if it goes against you. But you seem pretty experienced so you've probably already tried that. The problem I have with taking half is that the losses feel so much bigger relative to the winners - and losing streaks have a bigger punch.
Yes I have been down that path quite some time ago and tried that out. I find what works best for me is setting my target and simply taking my profit at that level. Every now and then depending on what is going on and the evident market levels I will throw in a BE on my positions. Having a BE being hit does not phase me at all. Becomes a no risk trade, if target is hit then fantastic, if not I move on to the next opportunity.
And yes you have answered the question to the whole half profit issue in the last part of your post
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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