I would like to share that I am currently holding a Long position on USDCAD. I follow a two-part forex trading style, with each part consisting of 1% risk. In the first part, I plan to close the first 1% as soon as the first take profit level is reached, which guarantees some profits. In the second part, I will move the stop loss of the second 1% to break even...
I'm half risk in this trade. My Stop Loss is at 112 pips My first 50% take profit is at 75 pips After the first take profit, I'm going to move my stop loss to 0 pips. I'll scale the trade out by putting a trailing stop of -112pips after the price reached 105,693 or is 150 pips from the current price That's the trade. Disclaimer! This post does not...
I'm opening a Long position when the market opens. My stop is set at -213 pips
Stop Loss at -110 pips I only trade on the daily so mostly Swing trades and some even Position trades depending on how long the trend continues. The first take profit is at 70 pips. Here I close 50% of my position and move the stop loss to break even. Thus scaling out and then putting a trailing stop as soon as the trade reaches +140 pips. The trailing stop...