I started back testing. I will be using the daily chart for the setup and 4hr for trigger. I chose these times because I cannot stay at the computer as I have a full time job.
I will be risking 3% of my account which will be £60
I had a setup for a swing up. I zoomed into the trigger and found i needed a 200 pip SL. The swing went up 600 pips. So 3:1 RR
But the problem is the amount of time it took to complete.. the swing up on the daily took 3 months!!!
My profit was £180
Obviously the profit is crap for 3 months but this is why im confused. If im supposed to do money management and only ris a few percent of my account. Profits end up pretty awful on long term charts.
I could make £180 in hours on shorter TF's so what am i missing here? why do it?
I will be risking 3% of my account which will be £60
I had a setup for a swing up. I zoomed into the trigger and found i needed a 200 pip SL. The swing went up 600 pips. So 3:1 RR
But the problem is the amount of time it took to complete.. the swing up on the daily took 3 months!!!
My profit was £180
Obviously the profit is crap for 3 months but this is why im confused. If im supposed to do money management and only ris a few percent of my account. Profits end up pretty awful on long term charts.
I could make £180 in hours on shorter TF's so what am i missing here? why do it?