Hi Terry
Based on harmonic pattern trading methodology, would you have taken partial profit when it hit 0.76235 or wait until it hit your profit target?
This "now you see, now you don't" elusive profit can be quite a roller coaster ride. Any thoughts ?
TerryHarmonicTrading
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@dchua1969, this is the way I have chosen to trade. From my backtesting, I wasted too much profits trying to micro manage my trades and protect my trades all the time. I would have secured more profits if I just kept my SL and targets intact.
The book did say take partial profits off the 38.2, you can choose to follow the book or take the more hands off approach I adopt.
To be honest, it is more difficult to trade like I do.
However, I always believe that less is more.
NickyJane
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very perfect.
Pter
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Thanks for sharing Mr Mario!!!!
Let me know if you reopen your FB,please.
I would like to learn from you.
I need a teacher!!
Have a good day
TerryHarmonicTrading
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@Pter, thanks man. Will keep you guys posted via mail.
jojofang0901
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Very nice trade setup, thank you for sharing your idea. i have similar view on this pair as well.
TerryHarmonicTrading
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@jojofang0901, thanks for sharing. How did you determine your profit target?
jojofang0901
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@TerryHarmonicTrading, Hi, I am targeting the daily chart's 50 EMA and support trendline. Thank you