I love trading the GBP/USD but I constantly have this problem. It will move 30 pips in my favor so I use my trailing stop and wham, im out of the trade and miss the next 60 pip movement
. If I use no trailing stop then it reverses and I break even because I always move the stop up to cover the spread. Let me know if you have any luck using mulitple lots because I might give that a try. Atleast you can lock in profit by closing one lot, but then you cut your pip value in half for the rest of the potential move up. I think money management is one of the hardest things to master in FX.
Quote:
Originally Posted by topchess
I closed demo trade at 20.7 pips for the experiment.
This might be wrong decision why? It can go in my favour more. but until we find a strategy to protect max pips and give away minimum loss, we should be happy with 20 pips for a trade. (some trends last until 100 pips)
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