DislikedHi TradeinSD, This is a nice and helpful thread. Hope you don't mind me. I have questions for you. Besides hitting stoploss, may i know how do you exit your trades? Do you exit your trades when they have achieved certain ratio to your favour, for instance 2:1, 3:1, 4:1...? Or you exit based on other methods? If yes, do you mind to elaborate a bit more? Thank you and good day.Ignored
Apologies for the late response.
1st thing I always look for is (at minimum ) 2:1 or 3:1 RR. Then I look for what is in my way. Support or Resistance. Are they significant? Can I get to a 2:1 RR before a significant SR is touched. Larger Time Frame SR's can be very challenging. What relationship do they have to Supply and Demand Zone out in front of the trade ( S D 's are always the target ) = Were price should move to next. Sometimes you can only get a 2:1 RR based on a strong SR out in front of the trade. This is were looking at higher TF's.. Looking left into structure can help you determine your ability to get to a 2:1 or 3:1 RR. If there is a significant SR before you get to 2:1 RR .. don't take the trade.
I may even set up the trade with multiple positions taking profit at a 2:1 then a 3:1 RR. My most recent trade posted was set up that way.
Hope this helps
TSD