hi guys. i have been reading thread and it looks great.
maybe im jumping the gun.
but when you get a good signal
and you make a trade.
how do you know when to get out.
thanks.
I read an ebook one that gave the advice, you should exit the trade when you feel you have made enough profit.
Its not something that can be summed up in a paragraph. The first 50 pages of this thread will give you everything you should need in regards to your question. Specifically focus on the S&R section.
you see, as some trades can be losers.
its tempting to hang on to winning trades.
and annoying when you pull out and the trade keeps winning even more.
sometimes you feel you pulled out early. much too early
and it can get you tempted to jump back in the same trade.
which is a bad move once you are out
as your not trading off any signs.
i just need to clarify how to handle this.
ill re read the pages. see if i can find clarification on that point.
Anyone else is having a good week? 
Trading will teach you some really good life lessons. One of them is be happy with what you have. This is under the assumption that you are still being sensible and still holding out for a profit that would give you a good RR. But the rest is gravy and its like kicking yourself because next door have a slightly nicer car. If you live life that way you will end up going postal.
I do in saying that personally do something to help manage exactly what you just said. I trade a double lot and to scalp one and swing the other. When you take one off you can relax as there is money in the bank move the other to B/E. You can then chill out when you let the other one run. I find it keeps me calmer when things get tight.
@USDCAD BUEB ( H4 / H8 ):
I’d been watching that same area ( around 1.0600 RN ) but unfortunately I was (far) away from my computer when the BUEB happened so I missed it. Good job to those who’ve cleaned up!
.
Hallo eb0t, and welcome!
Well, one way is to set profit targets at the next relevant S/R zones in the direction you think price will go in.
Another way is to trail price ( e.g 2-candle trail ) and get taken out when price reverses.
The first is what we use most often. The second is what we use when we think we have a ‘runner’ and want to take full advantage of it.
Cheers
great advice pipwhip.
thank you very very much.
great advice dudest.
these approaches are sensible and make a lot of sense. to stay profitable
thank you for great advice.
im adding comment to my post as you guys seem NO NONSENSE and totally price action speak.
so dont want to add new posts unless its price action speak.
its refreshing to see a system that is really no nonsense, and if worked patiently, could well be consistantly profitable. plus im a big fan of clear charts and price instead of indicator city.
You’ve brought up some key points. Everything rises and falls with trade management.
To put it simply, there’s no way around it other than through practice (actually trading and adjusting over time).
Because the issues you’ve raised are trading psychology ones, ones that take mental adjustment over time to deal with.
It’s just like how you can know the theory of driving a car, until you actually get behind a wheel for the first time and have to drive; it takes practice for the brain and eyes and hands and feet to build the co-ordination necessary to become a great driver.
I advise reading the superb text “Trading in the Zone” by Mark Douglas. It will set you off on your way in style
Cheers!
Hey BreakForex,
I was a bit worried when you changed your picture to an angry Hulk! right after I questioned your decisions, thought there was some trouble brewing 
It’s ok to learn from making mistakes, but it can also help to create bad habits [you play as you practice].
@Setting of TPs, et al: remember we fully manage a trade from the TF we’ve taken the trade in. So that includes TPs.
We take trades off Daily levels, but set TPs at relevant S/R levels on the TF we’ve taken the trade from.
When price gets to the First Trouble Area or first TP, we can do one of several things to manage risk and capitalize on the trade. Check out the TRADE MANAGEMENT section of the Thread Guide for details, all there.
Cheers
Wow, just finished the first fifty pages of the thread as recommended and hopefully ready to start contributing to the thread/learning. Certainly enjoyed everyone’s comments and advice. Let’s get trading.
Nothing lost buddy, take the bueb on the daily USD/cad.
Cheers
Welcome brogen!
Looking forward.
Cheers
yes its quite amazing;and the key thing i found is, these guys trade cool and clever. they dont just jump on anything that looks promising.
if its not a proper price signal in every sense, they let it pass and wait until one arrives.
i really think this is the key to being a phenomenal trader, who can turn a small pot into something HUGE.
these guys and this system is for stayers.
I just wanted to ask peoples opinion on trading different currency pairs at the same time. Because there could be correlations between different pairs will you avoid opening an AUDUSD if you have an open EURUSD? Alternatively, should I just not care if its a good signal?
Hi WilkensOne
This comes down to personal choice but the safest option would be to not risk more than your set percentage (say 2%) on any single currency in total. For example you could risk 1% on each of two USD trades or 2% on 1 USD trade.
If you risk 2% on all trades you can very quickly end up with risking way more than you meant to. e.g. If you had 3 USD trades open at 2% then you are in fact risking 6% on the USD alone.
Cheers
Kiwiman
Keep meaning to read it! definitely on my to do list.
Darth
