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Old 01-24-2008, 02:43 AM
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tonymand tonymand is offline
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Join Date: Jul 2007
Location: Perth, Western Australia
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Hi Sweet Pip - get rid of the indicators (you probably knew I would say that!). I have moved my stop to break even and we will see what will happen. No one knows for the individual trade. There have been no obvious exit signals for me its just rather drifting around. It was up 2R at one time and that was handsome and could have been taken. All we know for certain are the statistics based on backtested methods and watch for reactions around main support areas. At 2R I could have taken all (as I did yesterday), half and trailed the rest or go for all or nothing which I have today as there has been no strong pullback and we are not at a major support. Its just a matter of having a plan for these things. Remember the 50% pullback so far is well within normal trending behaviour. This trade is riskier than yesterdays in my view because of the failure swing at the low so we are no longer following lower low behaviour and this could be the start of a turn on the H1 but it is now a free ride
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