Intraday Trade Control

In China we have a saying of "you throw out a brick, jade may follow".

So here I post my intraday trading control prototype, which I find it much more useful.

Would like to hear about what you guys' opinion, so I can improve it.

Thanks,

Samuri

I am not a big fan of trailing stops, especially not in a rigid fashion such as yours. If you are planning to trade this way on multiple pairs, then you should at least take into account each pair's volatility before setting such rigid sl and tp levels. For example on GBP/JPY, a 30 pip stop is crazy because of the inherent volatility of the pair and because of the high spread.

I find it better to set your sl and tp levels dynamically according to technical levels. This will not only automatically take into account inherent volatility, but will also give your trades enough room to develop while minimizing your risk.

I don't mean to criticize... but you asked for opinions .

I second fierceman's comments. I place stops and take profits according to S/R levels.