Have develop or lets say developing a very simple system for eurusd chart on the five minute chart with a stop loss of 50 pips on the five minute chart , am okay with my stop loss and i don't plan to adjust it
but my problem is the Take profit which i feel i should use 100 pips. i have look and did manual backtesting and found out that most of the time it gets to 70 pips and come back, and in a good market or i short move of 200 pips you can bank up to 6 trades then that 6 trades can be 70 pips * 6 = 420 or 100 pips * 6 = 600 but sometimes if you want to pick 100 pips per target you end picking little or nothing at all.
Looking at the ATR for eurusd in the past
I Can't really explain this but for those who have been here then i guess you understand. The psychology playing on me right now is that i can't tell if is greed or mediocrity( were i can pick more and just want to go for less)
but my problem is the Take profit which i feel i should use 100 pips. i have look and did manual backtesting and found out that most of the time it gets to 70 pips and come back, and in a good market or i short move of 200 pips you can bank up to 6 trades then that 6 trades can be 70 pips * 6 = 420 or 100 pips * 6 = 600 but sometimes if you want to pick 100 pips per target you end picking little or nothing at all.
Looking at the ATR for eurusd in the past
I Can't really explain this but for those who have been here then i guess you understand. The psychology playing on me right now is that i can't tell if is greed or mediocrity( were i can pick more and just want to go for less)
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD