The trade setups I shared with you in last week’s live training session are now collectively 550+ pips in profit. I have made a number of follow-up videos you can find here in my blog, showing how I have been managing them.
Last night I recorded a video showing how I was scaling out (taking some profits) on some and moving stops on others. As we know fear & greed are big emotions when it comes to trading. My fear/concern now is that these 4 trades don’t suddenly flip around and take me out. My greed is that they could go a lot further.
Managing Forex Winning trades
I often “scale out” of trades. It’s good for banking at least some profits from a trade. It’s also great for my psychology. For me and most folks, there is nothing more depressing than seeing a big winning trade suddenly turn around and close the trade.
At this moment in time I have made my 5% months target from less than 5 trades again. Remember, profitable trading is NOT how many trades you take, nor even your win ratio. Its how MUCH you make that counts.
I have posted this video on Youtube to help spread the word about FMP. Please do me a favour and watch it there (just click on the Youtube link bottom left) then press like, share and subscribe.
You can also see our previous post on how I got these entries and talked about what we need to each and every week. I also shared a software that can help you manage your trades for you.
So all you need to do is find good entries and leave the rest to the software.
Managing Forex winning trades
Link to the software