As it's Gold, I would set the TP to 32 and move stop to break-even as soon as you hit 20; then lock in 20 at 30. They say you should aim for at least 1:1, but I think the important thing is to claim a "decent" reward for the risk; and 20 isn't too bad.
I've noticed with strategy 3 that it doesn't seem to work too well after 2pm UK time (S&P, Brent, Gold), which is annoying as I'm not at the charts in the morning/early afternoon. But at least it's possible to set an alarm to be alerted when there is a possible trade coming up.
As it's Gold, I would set the TP to 32 and move stop to break-even as soon as you hit 20; then lock in 20 at 30. They say you should aim for at least 1:1, but I think the important thing is to claim a "decent" reward for the risk; and 20 isn't too bad.
ReplyDeleteI've noticed with strategy 3 that it doesn't seem to work too well after 2pm UK time (S&P, Brent, Gold), which is annoying as I'm not at the charts in the morning/early afternoon. But at least it's possible to set an alarm to be alerted when there is a possible trade coming up.
Nope, it doesn't work too well during opening and closing hours of Euro- and US-markets.
ReplyDeleteI agree, though... 20 isn't too bad. :)