DislikedHi Yorik,
I read that according to your analysis, it is more profitable to close the entire position at +20 pips than taking half at +25 pips and letting the other half to run. Does it mean we have to set a fixed profit target at +20 pips?
What if our stop loss is more than 20 pips, which means a bad RR?
Sorry if I misunderstand your analysis.Ignored
Please, remember that those conclusions were based on MY results, and besides, the quantity of trades taken for analysis was not so big. If you trade with similar profitability, you could make some changes in your trading according to them. But if your statistics is different, such alterations may worsen your trading results, do not forget that!
For example, if you look at Phillip's statement posted several days ago, you'll see that most of his trades have gain more than 10..15 pips (when only TP1 is hit and then price returns to BE), in other words, his trades usually reach TP2 or are closed above TP1. So if he decided to close both position parts at TP1, it would seriously worsen the overall result, it would be a mistake.
In my results I got that TP2 was hit so rarely that it could be more profitable to close the 2nd part of position at TP1 (which was hit much more often). But the reason of that can be that: a) I'm putting TP2 too far or b) I often fail to enter the trades which reach TP2. Both may be true at least partly.
The short conclusions to your question will be: a) please, make your own statistics, and make conclusions according to it; b) some traders may find that they can be more profitable if to close both parts of position at TP1 (more but small profits), other may have better results if let both positions run to TP2 (less but bigger profits), the third may be happy with intermediate ("Phillip's") variant.
