Quote:
Originally Posted by mekosmowski
If you had more than 1 lot in the trade, maybe you could have sold half your lots at the one-third-profit point and then adjusted the stop-loss to a bit on the profit side of breakeven. (I think you'd need to remove and reenter the OCO entry orders to do this on US platform). This way your risk is now less than 0 (i.e. you are definitely in the profit and at about 11% of your original total profit in the worst case), but at the cost of your total upside being about 67% the original plan. Limiting profit slightly to promise no loss is worth the trade for me.
I'm starting out too and am only making 1 lot trades now, so if you're doing the same maybe this plan is just something to think about for the future.
Glad to see you posting!
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I like to do this as well, and go a two lot route. Ill set an initial target and an extended target . Once target 1 is hit , ill take profit and bump stops on order two to break even.
Walker
