Cautious. What you talk about is voracity sir. So... When you are taking a gander at the diagram with no skin in the amusement you are quiet, and see things plainly. You set what is a satisfactory misfortune, and benefit. All great. At that point cash really gets included, adrenaline siphoning, the human sense of self giving a shout out to our "Virtuoso"! What you see toward the start.. stay with. Yet, on the off chance that that comes up short you, ride it until you see two candles the other way of the pattern. I do that, and will in general catch long swings. Gracious.. what's more, keep moving your stop up to new regions of help. or on the other hand obstruction. You must be prepared to eat some negative pipage however. Those union periods are chilling. IMHO that is
How can I stop myself from closing trades early?
This is a question that most traders face. I can give you a solution from way i do it, but it depend on you. Especially in forex if we ask about profitability of a system we never ever tell win/loss ratio. Because it nothing to do with profitability alone. So what matters is Win/Loss ration + Risk/Reward. Simply we can say how much you gain when wining and how much you lose when losing. We called this as "expectancy"
Ok this means this, Let's assume that your system wins more than losers. But when you losing you lose more than when you wining it is problem. It doesn't matter to win less but when you win you should win more than you lose.
E= [1+ (W/L)] x P – 1
* W means the size of your average wins
* L means the size of your average loss
* P means winning rate
This is the Equation of Expectancy.
Ok back to the question. Seems you have a good system. Really happy about that. and also with the facts seems it has a positive expectancy. that is great.
Solution :-
Only solution is your exit strategy. It is more important to have a exit strategy same as for the edge and risk management.
Static TP levels with BE rules
Most of the time this is what i do. If my stop loss is about 30 pips my Rewards will be 30,60,90 ...so on.
So when my profit shoots to my First Reward (30 Pips) i will Break Even to the entry. If it goes to my Second Reward ( 60 Pips ) i will break event to 30 Pips. That is how i increase my profits. Of course anything comes with pros and cons. Con is always you will lose one reward.
From Above screen shot you can see when my trade went to R4 area i just Break event to R3 area. This is what i do when trading
But it all depend on you entry rules and exit rules. My edge is logically support to this phenomena. But you can try this. This method is very good for Trend Trading Styles.
Extra Tip :-
For some of my systems i use Pivots as a exit, because Pivot act as slow down areas as well as it comes with a good probability and static background.
I try say please make your own exit strategy that relative to your entry logics. That is the best way to increase your profits. Because every system is unique. You can get some ideas from this and try to make your own
Ok this means this, Let's assume that your system wins more than losers. But when you losing you lose more than when you wining it is problem. It doesn't matter to win less but when you win you should win more than you lose.
E= [1+ (W/L)] x P – 1
* W means the size of your average wins
* L means the size of your average loss
* P means winning rate
This is the Equation of Expectancy.
Ok back to the question. Seems you have a good system. Really happy about that. and also with the facts seems it has a positive expectancy. that is great.
Solution :-
Only solution is your exit strategy. It is more important to have a exit strategy same as for the edge and risk management.
Static TP levels with BE rules
Most of the time this is what i do. If my stop loss is about 30 pips my Rewards will be 30,60,90 ...so on.
So when my profit shoots to my First Reward (30 Pips) i will Break Even to the entry. If it goes to my Second Reward ( 60 Pips ) i will break event to 30 Pips. That is how i increase my profits. Of course anything comes with pros and cons. Con is always you will lose one reward.
From Above screen shot you can see when my trade went to R4 area i just Break event to R3 area. This is what i do when trading
But it all depend on you entry rules and exit rules. My edge is logically support to this phenomena. But you can try this. This method is very good for Trend Trading Styles.
Extra Tip :-
For some of my systems i use Pivots as a exit, because Pivot act as slow down areas as well as it comes with a good probability and static background.
I try say please make your own exit strategy that relative to your entry logics. That is the best way to increase your profits. Because every system is unique. You can get some ideas from this and try to make your own
" People don't care about what you say, they care about what you build "
- #29
- May 20, 2019 3:04pm May 20, 2019 3:04pm
- Joined Mar 2012 | Status: Trader | 14,329 Posts | Online Now
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #30
- May 20, 2019 10:28pm May 20, 2019 10:28pm
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Do your homework, follow the footprints of smart money
- #35
- May 22, 2019 1:16pm May 22, 2019 1:16pm
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
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