The nature of the forex market is that it does trend very nicely, but also it does like to retrace nicely to.
What I try and do is to have a trailing stop just beyond the previous 2 15 min candles. This way I won't give back too much profit but will keep me in for the majority of the strong trend up for those next few hours.
If stopped out, I then wait for the inevitable retrace before entering again with the trend.
Its not uncommon to see 100 pip retraces (EUR/USD) and for me thats too much pippage to give up. I'd rather bank and then reenter again on the next leg.
What I try and do is to have a trailing stop just beyond the previous 2 15 min candles. This way I won't give back too much profit but will keep me in for the majority of the strong trend up for those next few hours.
If stopped out, I then wait for the inevitable retrace before entering again with the trend.
Its not uncommon to see 100 pip retraces (EUR/USD) and for me thats too much pippage to give up. I'd rather bank and then reenter again on the next leg.
