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Scaling out of positions: best practice?
Been trading $EURUSD for a while now, mostly in and out quick. I'm trying to hold trades longer when the setup is strong, but scaling out is still throwing me. Say I'm targeting a move to a key resistance at 1.0950; do most of you scale out a percentage at 1.0920, then another chunk at 1.0940, or just hold the whole thing till your primary target and then trim? I'm finding that if I trim too early, I leave a lot on the table, but if I wait, sometimes it just whips back. What's the general philosophy here for maintaining exposure while securing some gains?
1 comments · 6 points
This is exactly what I'm struggling with too! I've been doing the 'trim early' thing and then kicking myself when it blows past my initial trims. So if you hold the whole thing, do you risk a larger retracement if it doesn't hit your exact target?