GBP collapse - superb MTPredictor short

[Tony Beckwith]

Here's the outcome of the 30 min. GBP/USD short trade off the chart posted earlier...

Over +10x risk/reward at the bottom profit zone...

Simply superb. Again, longer timeframes produce excellent forex set-ups in MTPredictor.

Thanks

Tony.

[timo4sho]

Wouldn't you have been stopped out at break-even, if you had followed the standard trade management guidelines (once you reach or close beyond the 2-3 profit zone, set your stop to break-even)?
What trade management do you employ?

[Tony Beckwith]

Timo - yes, the return depends entirely on whether your trade plan includes aggressive or conservative management strategies.
A conservative strategy (such as the Surgical Strike which I document here (http://www.mtpredictor.com/pricing/RTRecord.html)) would simply take profits at the 2-3x profit zone...
An aggressive strategy could take, say, 1/2 position out at the 1st profit target and move the stop on the remaining 1/2 to breakeven...looking to close the remaining 1/2 at the 2nd target...
A middle strategy could indeed be along the lines of the standard guidelines...
All can be easily run with MTPredictor - the key point is not to chop and change unless you're very advanced.

Thanks

Tony