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When do you stop

  • #21
  • Last Post: Sep 1, 2009 7:34am Sep 1, 2009 7:34am
Quoting TraderT
Excellent question. One method i am looking at adopting, is to restrict losses to a max - daily, weekly and monthly. Let your winners/profits ride, but put a trailing stop to it.

Max Loss Target Profit (2 X max loss)
Daily - 3% + 6%
Weekly - 8% + 16%
Monthly - 16% + 32

Assumption: Risk max 1% per trade, min Reward-risk ratio should be 2:1. Max 3 trades per day.

For daily, if there are 2 consecutive max losses, reduce positions to half. Stop trading if daily max loss is hit.

For weekly, if there are 2 consecutive...
i definitely agree we should restrict our losses to a max number and let profits ride. After all if yuo know you have a proven edge than let the law of large numbers work itself out and you should continue to trade into profits. And the protective profit stop (peak drawdown limit) is definitely a good idea to not give the gains back. thanks
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