Hi, Mike, I was revisiting James16's earliest posts here. looking into the charts he posted, seems quite a lot setups gave very limited profit potentials, while the other few led to tremendous winners. your below answer validates what I observed, so, it is good to know the profit patterns one could expect. to manage trades in consistent manner, it seems there will be two approaches if I am not wrong, either take small profits for every trade with high winning rates, or a lot many of breakevens in exchange for a few very big profit moves. anything in between which requires discretion, to achieve this, seems require huge amount of experience and intuition. huhhh, really a long journey to the other side of the play !
More homework , I knew......
thanks very much, Mike.
More homework , I knew......
thanks very much, Mike.
DislikedHey Krue
I don't really have a set answer for you. I really don't even think about pips so to speak. I just manage my trades according to what I believe is the best game plan. I have a eur/jpy open for some 200+ pips and a nzd/jpy for around 100. I only even know that because you asked me so I took a peak. Instead I manage each and every trade based on the situation and the approach I feel is best. I take what the market offers. Sometimes that is a loss/small loss / small win / large win.
Sorry if that isn't what you wer hoping for
MikeIgnored