Exit strategy...How to get the pips?

Hi all traders,

We all have look to the charts and see a huge set os candlesticks and imagine: "How nice was if i could catch all pips of this trade".
We all try to get the best entry strategy ( and we can find in this forum a lot of different ones), but in my opinion, a closing strategy for an order with profit is more important.

I have a trading philosophy: "Better to have 10 Pips in my account than nothing!".

We all have different ones, so i decided to create this thread to share and discuss the post/ cons for each.


In the pass, i tested a lot (some combined) like price action, the tradicional EMA 5/10 cross, Stoch., MACD, RSI,... but all of them have pros and cons. Now i'm using (testing) 2 levels of trailing stop as an exit strategy.

 

1. 1st level starts when reach 10 pips, and set TS to 5 pips,
2. 2nd level starts when reach 20 pips, ans set TS to 100 pips.

The big problem of this is that you can close an order with few pips. Ok that is profit, but then you see the chart go up and up and up again, and then you think: "How can i get more pips?". In other cases, you see the chart reach the TS, and then goes down, and you think: "at least i get a profit".

As a SL, i still didn't found a good one for me. Some times is better to use a % of your account, as MM, other times is better to set on the top/ bottom of the last wave.... I really don't know what is better.

Hope to get some feedback and see you sharing your experience about this topic.

Lets get some pips today!

I guess, ATR trailing stop would be great. You can use "multi purpose trade manager" by steve. It is 10-in-1 solution for trailing stop.