It depends on whether you’re trading the trend or the range.
If you’re trading the trend (let’s use an uptrend for example), a sign that the “trade has gone bad” would be when the price has reached the previous low.
If you’re trading the range, a sign that the “trade has gone bad” would be when the price goes below your support level, or above your resistance level.
As a reminder, when you put in an intended Stop Loss (SL) or Profit Target (PT) for your trades, you wouldn’t have to be in a position to grapple whether your trade has gone “bad” in the first place since your SL and PT automatically take care of this for you.
To find out more about trend and range trading, FXPRIMUS currently offers 60 days free access to FXPRIMUS Coach for all funded Live accounts.
Inside FXPRIMUS Coach, you can chat 1-on-1 with a live Forex coach who will answer all your Forex trading questions, learn from more than 40 tutorial videos for beginner and advanced traders and receive SMS trade alerts sent directly to your mobile phone.
Access to FXPRIMUS Coach is yours free for 60 days when you fund your new Live account with as little as USD250, but to receive the SMS trade alerts you do need to fund at least USD2,000.
To your success as a profitable trader,
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