bought the lower area on eu m5 demand
65 tp
PA, S/R, ZL, EXTREMES & MOMO
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- newscalper
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es/pip wrote:newscalper wrote:One thing that's been bugging me - why are a lot of people moving stops to break even when they are trading a method which is predicated on taking out stops which have been moved to break even?
i move stops to be ( when scalping) when i am close to my entry and the PA is not agreeing with what i am doing/thinking---- or below piviots which happen to be close to my entries at -1 or -2
i do not move stops to be after a trade goes my way ---- i take the profit
there is a difference
I see. So for example, if you're managing the trade on 5 min and you're up a few pips but a 5 min bar closes against you (but you're still up a couple of pips), you move the stop to b/e?
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newscalper wrote:One thing that's been bugging me - why are a lot of people moving stops to break even when they are trading a method which is predicated on taking out stops which have been moved to break even?
Example:
I took a short at supply and am currently +7. New momo formed that is right below my entry. Chances are, if price goes back to my entry, it will get to my initial SL. In case price jumps 20 pips in 30 seconds and is too fast for me to exit...you get the picture.
To put it simple if I don't take profit, I would rather take +0 than -1,-2,-3,-4,-5,-6...and then re-enter at a better price if I do get taken out...wouldn't you?
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