DislikedThanks, Its really on a case by case scenario, and changes as the market changes. Ironman has a good post above this about it. In the way of CAD today, the trend is overextended and ready for a considerable retracement. I bought some lower and when I got to breakeven took off a little exposure and pocketed some $. It might yet still go lower, but I base my profit-taking scheme one at a time. CAD I'm looking for more, so I'm not ready to go off the wagon on that one just yet. My spreads are high today, indicating a stalled market, so I'm going to wait the rest out. But that's just me.
The way the market was behaving Friday to today, though, I showed some hesitation on hopping on anything with big size.
USDJPY the other day was in a super-fast market, so if price was going to pop, it was going to run hard, but that never happened. Just the nature of the day. Trade was only good for +20. Dollar got annihilated.
The NZD trade last night was a little flukey, so I made sure to take some at +40 and see if I caught the run. It went higher so I went for another sell at the higher level posted earlier. Took some profit on that at +40 and trying to get a decent move on the rest.
I dont generally use static stop losses and take profits, thats why I dont post them here.
The market is constantly evolving, and based on what I am looking for and what I believe will happen and within the boundaries or risk tolerance I will adjust them all accordingly. Every day is different, and experience alone can get you used to that.
But the trades provided everyone in this forum so far have been excellent. Every trade has been a winner by atleast +20 pips, some considerably larger, with the exception of 1/2 of the AUD trade (which only went against you about 20 - 25 pips and offered a chance to get out without losing a dime, all within 1/2 hour). So we'll keep the ball rolling. Continuing to see new users pop in and posting great stuff. We have a better winrate this past week then 99% of all hedge funds, so sh%#, lets keep on doing it .Ignored
Expected the unexpected