Hi Everybody,
Today I would like to look at a question I ask in the Trading Course, whether it is better to simply “take profits” at profit targets, or to start to “trail” (for example 1 tick beyond bar high or lows) once a target is reached.
Well, there is no set answer, you do whichever you feel most comfortable with. As long as you stick to the same method each time.
A good example is on the 3min Russell yesterday, please see the chart, where the long off the TS3 buy reached the first target, where a nice +3.2R Profit was available. But if you were using the “1 tick trail” method, this would have help the log into the high for +6R Profit (ignoring slippage and commission).
There is no right or wrong way, just stick to the same method and don’t “chop and change”
Thanks, Steve
PS please remember that today (Thursday June 10) is rollover day for the US e-minis.
Today I would like to look at a question I ask in the Trading Course, whether it is better to simply “take profits” at profit targets, or to start to “trail” (for example 1 tick beyond bar high or lows) once a target is reached.
Well, there is no set answer, you do whichever you feel most comfortable with. As long as you stick to the same method each time.
A good example is on the 3min Russell yesterday, please see the chart, where the long off the TS3 buy reached the first target, where a nice +3.2R Profit was available. But if you were using the “1 tick trail” method, this would have help the log into the high for +6R Profit (ignoring slippage and commission).
There is no right or wrong way, just stick to the same method and don’t “chop and change”
Thanks, Steve
PS please remember that today (Thursday June 10) is rollover day for the US e-minis.
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