This trade was entered on 19th October. The entry point was 40900 at £1 a point, with a stop at 2000 points below the entry and a take profit 6000 points above the entry, giving a potential profit/loss ratio of 3:1.
The price today is 44478, so the potential profit is (44478 – 40900) * £1 = £3578.
It’s time to move the stop. The Average True Range (ATR) is around 2500, so I will move the stop this distance below the entry price of 40900. This means the stop is at (44478 – 2500) = 41978. With the stop in this position, if the trade goes against us then we’ll be stopped out for a small profit of £1078 (calculated by subtracting the difference between the stop and the entry price, or 41978 – 40900)
Time to continue the monitoring and let the trade run for profit. I’ll present a further update over the coming weeks.
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