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 types 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:
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