Dislikedexits for me are my main concern: as Ronald Raygun puts it if u manage to make money on a random entry system (being the exits the only variable) u will succeed.
as an example i can tell u that the last days of my real trading account i blew it because i didn't bank some 5 or 6 40 pip trades. looking for a 100 pip trade they came back and closed at BE. some times even i let it become negative.
so my strategy is to get 1/3 ATR for 4 h entries and 20 pips for 15m entries.
on EU the 4h entry and exit of the last few weeks are consistently...Ignored
Stops are my main concern. My strategy is simple, candlestick reversal formation, and usually 8times out of ten my trades are rights. For those "right" trades, when price actions moves to a predetermined price, in the positive, I move my stops to break even. At the point nothing negative could happen to my position ... I will either make money or the stop will close out at zero (broker will have made spread but overall "I" didn't lose anything). One stops are at break even I have options, I can let my trade ride and adjust the stop accordingly or setup a limit order at a specific point in to "take profits off the table.
It's a beautiful strategy. What makes my strategy so successful is my interpretation of candlestick formation (price action). The candlestick entry formation is either a good, high probability of success signal or not ... and if not I shouldn't be taking the trade anyway.
