DislikedHi,
I went short at 1.0533 and have a stop at 1.0617 (84 pips away)
My strategy is to wait for the end of day and alter the stop then. I will not move it intraday no matter what happens.
A more conservative approach would be to take some money off the table early on and then ride the rest of the move. Depending on how it reacts at that level - 1.0500 may be a good place to do it and then move your stop to BE.Ignored
My stop is is also at 1.0617 - so it is nice to know that I am in good company there.
Where I am more uncertain is on the profits side - how far
is it reasonable to expect the ride from a good PB to continue?
This is such a long thread I can't remember all I have read, but think that somebody said they expect 2 to 3 times the size of the nose. Does that seem reasonable to you?
I am thinking of taking some profit on half my position well before that, but if I move my Sl to BE on the other half then am I just inviting a premature stop-out?