Gidday
As most people know Exits are the one of the most important parts of trading.
So I am trying to develop an exit strategy based on my current income. instead of setting an indicator based exit.
here is the idea
income 54000
Trading Days 250
54000/250= $216 required per day
Trading 6 pairs $216/6=$36
so am i right in thinking that trading 1 full lot with tick value of $10 i will require a 3.6 pip tp on all 6 pairs to make this happen
has anyone gone down this route before or do you have an Excel sheet on this set up
Cheers
As most people know Exits are the one of the most important parts of trading.
So I am trying to develop an exit strategy based on my current income. instead of setting an indicator based exit.
here is the idea
income 54000
Trading Days 250
54000/250= $216 required per day
Trading 6 pairs $216/6=$36
so am i right in thinking that trading 1 full lot with tick value of $10 i will require a 3.6 pip tp on all 6 pairs to make this happen
has anyone gone down this route before or do you have an Excel sheet on this set up
Cheers