DislikedI think the issue is rather a lack of clarification on what an 'edge' means and then assumptions around it, because that's what I first addressed, someone said you need an edge plus mm, then mentioned that a 20-30% winning system can win over the long run, which means that the system which is worse at picking entries than 50/50 needs some adjustment of sl/tp scaling/adding to make it win out. So here's a conflict of definitions, an edge as in win rate over 50% with equidistant tp sl, and then adjusting tp sl for a system lower than 50% win rate....Ignored
And here is the explanation: http://www.forexfactory.com/showthre...17#post5231417
What you earlier referred to is keeping TP as a moving target and changing the trades as market moves, just like what many long-term traders do, especially the Market Funds. The best example of what you said can be illlustrated how Mongolians used to hunt animals for food in the ancient times. They used to start with a 500 mile circle, gradually narrowing down to few miles hushing animals of their choice into this narrow circle and whoever wanted to break the circle became prey if that was an animal of their choice. A Longterm trader may trail the market from behind and when it gives first sign of reversal should get out of the positions.
The Thief of Wall Street