DislikedIBut perhaps this is not the thread for discussion of options, I appreciate this system greatly so I'll get back in line and not stir the waterIgnored
My other other approach (and I have back tested this an found it works as good as any exit I can find - an it's simple!) is if I get in around the Eur/London open (that is when I am looking for entries), if the candle I enter on goes in my favour (1hr candles), I move my stop to the high (for a sell), or low (for a buy) of the ENTRY candle and then walk away. Come back around London lunch time it's either stopped our or I just close it out before the NY session opens what ever the pips are, positive or negative.
I know it sounds simple, but all my back testing on this shows it works (over the long haul) as good as anything else. You are not there to even see the fake outs :-)
I really do like this system. IMO, it's as good as anything I have seen and it does not need tweaking or complicating. All I do in additon to the standard rules is look at the OHLC candles if I get an entry signal as that is what I am used to looking at. That's it.