moonchild
VIP Contributor
You open your chart and you find out that your favorite pair is trending upwards and downwards and you really want to get unto the trend because why not? The trend is your friend and you want to make money, in this short article we'll look at different ways you can join the trend and profit from it without giving out profits and getting whipsawed in the process.
First of all you'll have to wait for a pullback, you just can't jump in on a trade just like that, wait for a replacement at least 33% of the current move and jump in.
Another way to join a trend is to just jump in and put your stop loss at the former low of the trend, this is majorly advisable for aggressive traders who can't wait for a pull back, but anyways, use any style that matches your personality or test them both.
First of all you'll have to wait for a pullback, you just can't jump in on a trade just like that, wait for a replacement at least 33% of the current move and jump in.
Another way to join a trend is to just jump in and put your stop loss at the former low of the trend, this is majorly advisable for aggressive traders who can't wait for a pull back, but anyways, use any style that matches your personality or test them both.
