Here is a message I just recieved from a student and im going to give some advice which you may find helpful.
(see message below)
Hi LR
Just thought I’d update you on a 10xROI trade I’m currently in. Up about 260 pips so far (1:5R). It’s progressing quite well. Let me know what you think.
10XROI Trade – 19/11/15
Daily Setup
Push-Pull setup after a momentum move with candles hugging 3MA in a down trend
Hourly Setup
Break of mini support
50 pip SL, 500 pip TP
currently +261 pips -moving to be
My first comment is well done to Kevin as he is pretty new to this system and he’s doing great so far!
1) Here is how I would handle this as it is over a weekend, I would close the trade and re-enter at a better price if possible, unless Kevin is based in the UK and can use a spread betting broker with a guaranteed stop.
The reason is that there can be a gap over the weekend and it may not be in his favour, also the trade has already moved a long way and is due for a pull back as you can see by the last candle which is a long candle.
Generally price opens at around the same point as it closed on Friday but this protects your account in case of weekend gapping.
2) I would look at the context of the trade which is at the end of a run and adjust my expectations accordingly, as you can see price had already moved a long way down and had bumped up against some previous support so I would be minded to start moving my stop loss and be willing to exit at a 1-7 or 1-8 ROI.
But in any case well done to you Kevin!