Disliked{quote} Do I take some profit at 1R move my SL to BE, or not, and let the rest run.... I prefer doing that wayIgnored
Hi jpadvisor,
Thanks for your suggestion.
The problem I have, personally, with any Trade Management approach is that there is no statistics to support your choice until there has been a substantial number of trades taken 1000+.
We don't know, for sure, wether a simple Set and Forget approach in the long run, 1000+ trades, will in fact be more profitable than moving our SL to BE.
I guess this all comes down to the amount of money we are risking, per trade, the size of our trading accounts not to mention the size of our Balls. It's a personality thing and depends wether we can handle a number of complete Stop Outs, if we are adopting the Set and Forget approach, or we want to take at least some profit, if possible, from all our Trades.
I think I'm coming down on the side of taking something from my Trades, if possible, but as we know both approaches can lead to complete Stop Outs if we aren't careful.
That brings me on to another failing of mine finding it hard to exit losing Trades manually that's why I use a Trade Management EA, if possible, to do it for me.