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Spot FX - when to lock in profits

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Chicago IL
Trading Experience: Intermediate
Platform: Ninja, MT4,TOS, SC, Matlab
Broker/Data: CQG, AMP, MB, DTN
Favorite Futures: E/U, G/U
forrestang's Avatar
Posts: 1,039 since Jun 2010
Thanks: 227 given, 697 received

That is a bit of a broad question.

Either way can be profitable or unprofitable.

How are you entering? Where are you entering? What are you decisions based on? Do you like fib extensions? Do you want to exit using a momentum oscillator? What chart resolution are you viewing? Have you tracked your MFE?

Do you want to exit every trade the same way? Do you want to make it mechanical, or would you like to apply discretion?

One thing you can do is pick a few exit management strategies, and test them over a period of time and see what comes up.

Not that you have to answer all these questions, but some things to think about.

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