My plan is to slowly tighten up the stops until overall risk on the account is <2%
No point going too tight too soon because the trades need breathing space!
Note where my current stops are located ..... above the 74.000 psychological level which is also just above key resistance!
Any sign of very strong bullish intent to the upside and I'll consider closing out 1 of the 3 longs.
This is the focus and this is what trade management is all about.
ps. Chart structure is very important and so is knowing about any news (if any) and what the pairs trading ranges are on average.
pps. What is likely? Form an expectation and manage the cycle accordingly.
Masterrmind........... :nerd:
No point going too tight too soon because the trades need breathing space!
Note where my current stops are located ..... above the 74.000 psychological level which is also just above key resistance!
Any sign of very strong bullish intent to the upside and I'll consider closing out 1 of the 3 longs.
This is the focus and this is what trade management is all about.
ps. Chart structure is very important and so is knowing about any news (if any) and what the pairs trading ranges are on average.
pps. What is likely? Form an expectation and manage the cycle accordingly.
Masterrmind........... :nerd:
Master your Mind then Master your Trades