Dislikedyou are doing a great job... i just like the way you trade so cool and simple. thanks man.Ignored
My goal is at least 5% gain per week. I haven't achieved that yet, but I think with a couple of simple changes I may be able to achieve my goal.
As I analyse the results of my trades, I have noticed that for my winning trades my average drawdown is 28% of the ATR before it hits my TP. This means that I can extend my current entry of 10% of the ATR to 16.67% which will give me a better risk to reward ratio. This may mean I may miss out on one or two winning trades, but it also means with my current win rate, I should end the week with a higher % gain. With my analysis, I have also noticed that in trades where neither my SL or TP has been hit by the end of the day; the TP is hit the following day. So it makes sense to hold that trade over to the next day.
System changes starting next week:
1) My entry will now be placed 16.67% above the Daily open for a sell (16.67% below for a buy) This will give me a risk to reward of 1:2
2) If by the end of the day neither my SL or TP has been hit, I will not manually close the trade but will let the trade run either to TP or SL
I will continue to risk 3% per trade, but all I need now is a 40% win rate to be profitable.