One of the more common forex questions I get from traders is…
“How do I follow the trend longer-term?”
In other words: How do we get as many pips as we can out of a big trend?
It’s a three step process and requires two type of profit targets.
1) A non-negotiable, parked profit target
2) A trailing stop loss based on historical price movement
The key is knowing when and how much to ratchet the stop!
With these two tools I can manage longer-term follow-through in trend for days, weeks, even months. And even when there are corrections in the trend:
Questions? Comments. Leave them here at the blog!
Follow Raghee Horner (aka Queen Cleopiptra) into her kingdom of forex and futures. Get the best techniques and tactics for trading currencies, futures, and options.
Sign up for her free video newsletter today and get the invitation for for all her free webinars here.
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.