Hehe,
Yup, I guess it makes you feel just that bit better when you've got at least something out of the trade - after all to move s/l to break even you must have called right to be 100 pips up at some point.
People aren't going to like this but I've been missing something that's been staring me in the face these last 6 months - the main system will be tinkered with but like the complementary system should help me out in choppy periods which tend to occur at the end of a big run. I did my initial testing this way and I discounted it because of the spread.
I'm going to be closing main system positions that are in profit at the end of each trading day, still using the s/l rules. If a trade isn't in profit and I believe it will still turn out a winner, I'll keep open overnight. If I believe the trade will lose, I'll close at a loss at day's end and open a new position at the start of the new day.
I've been looking back over this thread and there have been numerous occasions where I've had open positions at 300,400 and even on occasion 500+ pips but have only managed to secure a small percentage of this as a closed trade.
The complementary method will still run alongside using 1% of account balance, keeping these positions for days or even weeks to get full value from a big trend as well as preventing being stopped out regularly in choppy times.
I hope people don't mind me tweaking - the basic system is the same apart from I'll take the pips at the end of each day rather than carry them forward.
Kind Regards
Steve
Yup, I guess it makes you feel just that bit better when you've got at least something out of the trade - after all to move s/l to break even you must have called right to be 100 pips up at some point.
People aren't going to like this but I've been missing something that's been staring me in the face these last 6 months - the main system will be tinkered with but like the complementary system should help me out in choppy periods which tend to occur at the end of a big run. I did my initial testing this way and I discounted it because of the spread.
I'm going to be closing main system positions that are in profit at the end of each trading day, still using the s/l rules. If a trade isn't in profit and I believe it will still turn out a winner, I'll keep open overnight. If I believe the trade will lose, I'll close at a loss at day's end and open a new position at the start of the new day.
I've been looking back over this thread and there have been numerous occasions where I've had open positions at 300,400 and even on occasion 500+ pips but have only managed to secure a small percentage of this as a closed trade.
The complementary method will still run alongside using 1% of account balance, keeping these positions for days or even weeks to get full value from a big trend as well as preventing being stopped out regularly in choppy times.
I hope people don't mind me tweaking - the basic system is the same apart from I'll take the pips at the end of each day rather than carry them forward.
Kind Regards
Steve
Hi Steve,
When I use your method, I always move SL to +1 pips instead of break even. I think this may make some extra profit in long term. LOL
Regards,
hksweeper
but you readers know that at the end of each month we have a pip count (
), an equity increase count(
) and all sorts of weird & wonderful stats.
