Hi Marketman. I do like to let a trade run till I think it has turned. The trail stop is the hard part. It whips back and hits the stop then goes again. How tight to keep the stop? The big question. No right answer. If I kept my stop lower and the FTSE kept going down my profit would have been less. In this case it went 5 points lower than my stop (6701) and turned up. It closed automatically. A profit is a profit. I may re-open if the chart suggests. I think it may get to 6800.
Your gold short? The AU price has been in a down trend for many months so that suggests a short, yep. It has been green candles for 4 days. 1200 to 1240, roughly. A brave entry to go short atm IMHO. price had moved up through my EMA. (10,20,30) MACD is positive. I hope it has topped but no sign for me yet. My thought is it is better to enter when the immediate trading is with you. Swim with the tide. Your stop is close!! Good luck. I will watch with you.
LOOKING for a short. Have a look at DAX/ Germany30. Currently 9418. Could go 200pips from here?? I am not on it yet but watching for entry. It has been running up for a while but it looks set for a rest. DOW also, but I do not trade it. It whips to much. Any punters out there who trade the DAX?
