Forexwatchman
Sergeant
- Messages
- 198
So the first part of your message mentions being off by 500 pips, which is way over any S/L I'd ever set. And I dont reccomend the advanced method of offseting your exposure with with cross hedges. That's not going to cut losses short and its just asking for a margin call. Remeber you shouldn't use more than 6 percent of your capital on all out standing orders (maybe 10% if your very sure of your analysis).
Besides that, I do have an answer for how I let profits run. One tool I find very successful is through the use of the Alligator. Now I actually use a different Alligator than the Bill Williams one, which combines 2 EMA's and a SMA. The trick is to not close out your trade until the red MA crosses back over the blue one. here's an example:
If you go to my profile you'll see an option to visit my homepage which is the website that I'm developing to help traders out just like this site helpped me out. I also go into much more detail on using this indicator.
Besides that, I do have an answer for how I let profits run. One tool I find very successful is through the use of the Alligator. Now I actually use a different Alligator than the Bill Williams one, which combines 2 EMA's and a SMA. The trick is to not close out your trade until the red MA crosses back over the blue one. here's an example:
If you go to my profile you'll see an option to visit my homepage which is the website that I'm developing to help traders out just like this site helpped me out. I also go into much more detail on using this indicator.