When should I exit a Trade?
A Profitable Trade should net you (IMO) 80% of the Maximum Profit you had in the Trade.
It works for me.
When I figured this out, the tough part was seeing it Turn and generate fictitional Additional Profits After I had left the Trade.
On average, I look to Gain Approximately 60% of the Move.
20% for confirmation to Enter & 20% from extreme to exit.
check your Charts and tell me you would be disappointed with 60% of the move.
{I understand this conflicts with the Stop & Reverse that has been discussed here. That is Not a Style that suits me.}
A Losing Trade should cost you The Lesser of 0.75% of Account / Believed S/R. (Discretion Advised when both are in close proximity.)
{Havent bust an account in (now) more than 30 years}
A Profitable Trade should net you (IMO) 80% of the Maximum Profit you had in the Trade.
It works for me.
When I figured this out, the tough part was seeing it Turn and generate fictitional Additional Profits After I had left the Trade.
On average, I look to Gain Approximately 60% of the Move.
20% for confirmation to Enter & 20% from extreme to exit.
check your Charts and tell me you would be disappointed with 60% of the move.
{I understand this conflicts with the Stop & Reverse that has been discussed here. That is Not a Style that suits me.}
A Losing Trade should cost you The Lesser of 0.75% of Account / Believed S/R. (Discretion Advised when both are in close proximity.)
{Havent bust an account in (now) more than 30 years}