I entered trades on Aluminium and Carbon Emissions April 13th, and they have been running in my favor ever since. I have no clue when to exit the trades. I am a fan of Rayner, and he suggests setting a trailing stoploss on 3ATR (daily time frame). But that feels quite extreme. Even if the trades are running in my favor, that would mean setting my stoploss around where I entered the trades. I could also set the stop loss when the daily candle crosses 20MA or even 50 MA. Or be satisfied when the RSI crosses 70?
What do you suggest? I’m most interested in hearing from those who have been trading trending commodities successfully.
Looking forward to hearing about your experiences,