Stoploss management

This is a discussion on Stoploss management within the First Steps forums, part of the Reception category; Originally Posted by FXSCALPER2 Leaving the stop where at 60 going for a smoke. put a profit target at 10. ...

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Old Nov 2, 2007, 4:59pm   #8
 
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Quote:
Originally Posted by FXSCALPER2 View Post
Leaving the stop where at 60

going for a smoke. put a profit target at 10. It is getting late, you know. I will go for a smoke (just cigarettes )
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Old Nov 2, 2007, 5:07pm   #9
 
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shadowninja started this thread If you hadn't put a target in and it jumped rapidly to 0, would you move the stop down to 30?
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Old Nov 2, 2007, 5:13pm   #10
 
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short GBPUSD @ 55, STOP 85
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Old Nov 2, 2007, 5:15pm   #11
 
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If you hadn't put a target in and it jumped rapidly to 0, would you move the stop down to 30?
That was what I was trying to show. lol I was up 15 pips on that one. I didn't move the stop to break even. I am now out of that.
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Old Nov 2, 2007, 5:18pm   #12
 
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looking for 20 pips on the GBPUSD. I will not move the stop. My bahaviour to these situations is asymmetrical. If it spikes in my favour, I will look for more. If it sipkes against me, I am out.
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Old Nov 2, 2007, 5:31pm   #13
 
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I am going to close shop for the week, but I am in good spirits so lemme tell you. I use a price stop as well as a time stop. I don't look at r:r on a trade by trade basis: I am interested in what happens over time. I look at the volatility and the speed of movement (which may sound the same thing). If the pair is hitting resistence and running down, then I expect to get my profits quickly. I give it a bit of time and close the position if nothing happens because it means the situation might have changed. For example, I expected the EURJP to give the 20 pips very quickly. It didn't, so I closed it instead of waiting for my stop of profit target to get hit.

I just closed the GBPUSD for 9 PIPS. Why? Because it looks sleepy.

I do move my stop to break even sometimes and trail the stop. I do this in a market that is edging in my direction in an orderly fashion. When I see 40 pip down, 10 pips up, 30 pips down 10 pips up, and so on. I take into account what has been happening immidiately before I took the trade.

This stuff is easier to do than to explain, believe me.
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Thanks! The following members like this post: shadowninja
Old Nov 2, 2007, 5:31pm   #14
 
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shadowninja started this thread Ah, I see. What if you're position trading?
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