How do you manage your open positions?
There are some traders that take partial profits. However there are others who never scale out. What do you think is better? Instead of scaling out wouldn’t it be a beter idea to move my stop loss in order to assure me a profit?
Do you move your stops to break even or to another level when the price reach a certain level?
Do you use trailing stops?
Often my Stoploss is my TakeProfit. It allows me to keep the wins running when I am in a ralley. But on other systems I use I have a fixed Takeprofit because I know statistically know that that will give me the maximum profit for that strategy. So it depends on the strategy.
If you are a swing trader you probably work with a moving StopLoss (not neccessarily a trailing stop) and as a scalper you probably want to use a Takeprofit.
It depends on who you are as a trader and what system you are following.
It makes more sense to use trailing stops and of course, it also depends on the strategy…
i’m TS user too --
Kinda fooled by OANDA MT4 platfrom TS =_=
http://forums.babypips.com/forex-brokers/49825-oanda-mt4-truth.html
On Onada, fell for the same dp TS and ya’ll know the rest…you would think they would at least post a footnote, “this is not the same TS you may come across elsewhere but hey, we give you something different and unique at every turn”…bleah
Yeah, another fooled thing, OANDA not provide demo account on their MT4 platform. Due to that, we cant check their MT4 platform performance (smart move for fooling their clients) -____-
So, i must inform this to everyone if wanna choose OANDA but usin MT4 platform instead their “FXTrade” platform. 
it all depends on you, depends on what suits you and your system
most people are firm believers that once a trade goes your way, they immediately place stop loss to breakeven or at a profit, they rather breakeven than lose money
i myself believe, it depends on your system and depends on how aggressive of a trader you are…
say you have a stop loss of 100 pips with 200 pips target, when you reached 100 pips target, instead of moving your stop loss to breakeven, perhaps take profit with half your position and leave stop loss alone…or take half profit at mid point AND place your stop loss at breakeven
both are there to help you prevent a loss when a trade is in your favor, perhaps most ppl prefer the 2nd option since it protects a bit of profit
so it really depends on your style
some systems tell you to move your stoploss as a trade keeps going in your favor
so really each has its own merits
I personally use a fixed R:R. Depending on what system I use, I may trade with a fixed 1:0.5 risk:reward or even less. I scalp the breakouts after a day of low volatility. A trailing SL is less robust since it relies on a trending market to be successful. The fixed R:R ratio I use, on the otherhand, allows me to profit from most market conditions (ranging or trending), and I usually profit from most fakeouts before they turn. Most trades close within a day so I have few trades left open overnight. Since I have few trades open at once, correlation isn’t so much of an issue, unlike orders that use a trailing SL and may stay open for weeks.
There’s no right answer. It will depend on how you design your system, but I’m quite happy with my strategy.