Of course, everyone has their favorite momentum trading strategy, and using an indicator such as the RSI (Relative Strength Index) crossing 50 on all time frames with say a 10 period setting can also work very well. You can also pay attention to support and resistance of course: but close to support if the trend is long, sell close to resistance if the trend is down, after a pull-back.
You will usually get the best results by waiting for pull-backs to happen. For stop losses, I like to use the 20 day Average True Range.
It takes experience to manage stop losses manually but after you get a lot of experience you can learn which ones to cut short: these are mostly the trades that go strongly against you right from the very beginning.
If the trade goes in your favor by about 1 ATR, you can look to add to the position upon further moving average crosses, roboforex register breakouts, or battlefield ea whatever forex review you like: using breakouts to add to positions can work very well. When you have about 3 positions on it is time to consider taking partial profits battlefield ea andor forex review moving up stop loss levels to lock in profits.
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