prochargedmopar wrote:aliassmith wrote:prochargedmopar wrote:Closed one of my higher level buys @+20 pips to decrease risk of avg position.
Still holding my lower level buy @+60
Here was an easy 10 pip scalp.
Bodies or wicks?
That is what I want to know.
Here it was the body (open) not the wick.
I'll finally let you in on the secret PRO! It is both and neither. I was talking to another trader about magic levels within the range/breakout. The thing is there is no magic level. Price does and will have anywhere from 0% to 100% of a retrace.
Sometimes it matches with the magic numbers but you never really know which one if any of them will hold.
So this leads me back to the age old question of direction.
Which way to trade?
When to take profit? (harder than the first question)
Nothing has changed PRO.
BDP = new range
Exiting a trade is the much more difficult part. That is why I suggest multiple extries for multiple exits.