I have a question and its kinda puzzling me....
You should focus on securing your profit... If you take a trade on a longer term timeframe, for instance you used the monthly, so counter moves on the smaller timeframes should not be bothering you because sooner or later, price will resume along the main trend on the monthly chart and if you went in the right direction, you will be in profit, so you should focus on moving your stoploss to breakeven and wait for the trend to move as much as it wants to.
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.....maybe someone can help me out. I'm currently trading on the 4 hour, daily, weekly and monthly charts. I'm trying to figure out when I do I get out of the trade with these charts? When I decide to get in and identified the trend, I noticed that it fluctuates so rapidly...sometimes not in my favor but it will rise up after so long so I'm trying to figure out....let's say if I trade with a monthly chart, do I get out when I notice that the trend is coming to an end or towards the end of the month..... or do I get out when I notice a substantial amount of profit? Also, I'm not using high leverage either. Any feedback would be greatly appreciated. Thanks!
P.S. Be easy on me, I'm still being breast fed :-)