USD/JPY daily signal

[chris]

Got a USD/JPY signal and it already reached its first target. It happened to me before that it reached the first target and then turned around, kicked me out at B/E and then went on to make a huge amount of pips.

So sometimes I'm a little worried if it reaches the first target very fast. Do you hold off with setting your trade to B/E or do you do it immediately?

[Gally]

If you're running split contracts as Marc advises, you'll at least have some profit. "I made all my money by selling too soon", JP Morgan. Trading is about whats in the bank, not what could have been. Move on to the next thing, don't look back.

(in philosophical mood!)

[joey]

well done for sticking to the rules.....i hesitated and was waiting for the price to reach 9130 to get in ...obviously that did not happen...missed a good trade...got to move on now ...

[Gally]

Which is what just happened on GBP/USD, took half at 50 points (hourly 200 ema), moved stop, and the thing bursts up and through the new stop. Well, summat's better than nowt

[chris]

Thanks for your answers guys!

I had decided to not take a quarter profits anymore at the end of last week as several profit takings were wiped out by two losses. But I think I looked at this wrong, because if I hadn't had these small profits, I would have been in the hole with my losses since none of the other ones actually produced big gains.

I've been in a GBP/USD trade ever since the daily pinbar a couple of days ago and just took half of my profits but at least if the markets go nuts with FOMC, I'll have a bunch banked.

How do you stack your profits? Do you take them at the initial target and then let them run or do you take another portion when you reach the equivalent of the SL?