Disliked{quote} No of course I don't mind, its demo at the moment as experimenting with some new strategies on the 1 min charts, but looking to go live again next week if I get some positive results this week. Basically I am trying to catch the London breakout trades by taking entries in the strongest trending pair through the London open. My theory is whichever 100 lwma is sloping the steepest then thats where the London money is going so jump on board grab a handful of pips with the first push then hold 2nd TP until the trend finishes. Well thats the...Ignored
Very nice trading.
I suggest to keep your winner and scale out as well if you like that sort of thing.Im working on keeping my winner as well
I did trade a trend system in the past and I can suggest that you split your trade in 2 positions of 0.05 each = 0.1
Then TP 1 = 8 pips @ 0.5
TP 2 then gets split into 5 X 0.01 lots
For example
TP 2.1 = 10 pips
TP 2.2 = 12 pips
TP 2.3 = 15 pips
TP 2.4 = 20 pips
TP 2.5 = a reversal of the MA's or change of CCI
You will have a lot of BE trades though that is just how it is with trend trading IMHO
All tps are relative to your SL
TP1 should equal your SL at the very least to give you a minimum of 1:1 R:R
BUT , there is plenty to consider as should be relative to the ATR of the pair your trading (plenty of back testing though )
Just my 2 cents and please feel free to ignore it completely.
We miss 100% of the shots we don't take