POLL...(Chart)-What would you risk?

Quote from Breakout:




Okay, and if the trade does go your way,( drops quickly) you don't lower your stop to BE until you have about 8 ticks profit?

That's something I've been struggling with. Lately, if I'm showing
4 ticks I'm lowering to BE, and of course I'm getting a lot of scratches. Somtimes I regret it, sometimes it was the right thing to do...:(
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Are you trading multiple contracts? Maybe scale out of your position. Lock in profits on 1/3 of your position at the +1 pt mark; and let the other 2/3 ride with a BE + 1 tick stop-loss.

-FastTrader
 
Quote from T-REX:

By ignoring the overall trend you are sure to lose your money.
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Thanks T-Rex...here's one I like.

"Look for good odds. Price levels---historically low levels, just
above price supports, etc.---sometimes indicate low-risk trades.
Look for them."


Quote from..."How the Young Millionaires Trade Commodities"...
Futures Magazine_(Special Issue 2003)...pg.11




 
Quote from Fast_Trader:


Are you trading multiple contracts? Maybe scale out of your position. Lock in profits on 1/3 of your position at the +1 pt mark; and let the other 2/3 ride with a BE + 1 tick stop-loss.

-FastTrader
More...

Yeah, I've been trading 5 lots, but I've been going all in, and all out. Maybe, selling a couple after 4 ticks will help. Thanks
 
Okay, thanks for the votes guys. Looks like about 65% of you would risk 6 ticks or less, with a heavier concentration in the 3 to 4 tick area.

I'd been risking about 4 on average, so looks like I'm okay,

Thanks again!
 
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