For those not on the private Telegram Channel, I alerted that I had a "buy stop" order in place for GBP.CHF yesterday (my order was for 34,000 units). The order filled in my sleep. This morning, I adjusted my stops and take profit in exactly the same way as described in this post. My 1st take profit at 1 x ATR was filled today and I adjusted the stop to my entry. Price action surpassed 1.5 x ATR a few hours ago and my stop has been adjusted into a trailing stop, which is now 6 pips above my entry.
This is how money management works. At this point, I don't need to even look at this one. It will run as long as it will run.
For those not on the private Telegram Channel, I alerted that I had a "buy stop" order in place for GBP.CHF yesterday (my order was for 34,000 units). The order filled in my sleep. This morning, I adjusted my stops and take profit in exactly the same way as described in this post. My 1st take profit at 1 x ATR was filled today and I adjusted the stop to my entry. Price action surpassed 1.5 x ATR a few hours ago and my stop has been adjusted into a trailing stop, which is now 6 pips above my entry.
This is how money management works. At this point, I don't need to even look at this one. It will run as long as it will run.
Excellent post!