Money Management is indeed the hardest part.
You do not want to trail your profit then miss out a major move in your favour.
But also, it does not look good to see 20+ reversed into 20- during day.
The challenge, biggest challenge. You can't be perfect with setting up these.
What we will do?
GBP is a big mover. We have to limit our loss.
I suggest using multiple lots or trailing stop your lot.
example:
open 2 lots, and set tp 20 pips for 1 lot. lock in these pips.
trail the profit on the second one or stop it at no loss if it didn't go in your favour.
or use 1 lot, but this way, if price went your favour then reversed totally..then moved again in your favour, you gain nothing.
I am trying to do some modifications to make the method so simple, and will share it when it's done, I will demo trade with lots today and find out.
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