Hiya TMS veterans. I have a question regarding your stop loss, if you use them. When a trade moves in your favour and has sufficient passed your BE point by say 20% or so, do you move your stop loss to the BE point and setup a trailing stop. If you do, do you find that you often get gypped out of some profits you otherwise would have got if you left your TP/SL at their original points?
Right now I'm using a simple system of 1:2 risk reward ratio to set my SL and TP points and using TDI to pick the best setups for a realistic 1:2 trade. So when the cross happens is it in a spot for a favorable 1:2 trade? It seems to be working quite well, I have noticed some of my losses had actually been profitable at 1 point and a break-even stop would have prevented any loss from that trade. I don't really have many trades that go the other way, in that a BE stop would have lost the full trade. It could be a case of not enough trades to make it show up.
What are you thoughts on the matter?
Right now I'm using a simple system of 1:2 risk reward ratio to set my SL and TP points and using TDI to pick the best setups for a realistic 1:2 trade. So when the cross happens is it in a spot for a favorable 1:2 trade? It seems to be working quite well, I have noticed some of my losses had actually been profitable at 1 point and a break-even stop would have prevented any loss from that trade. I don't really have many trades that go the other way, in that a BE stop would have lost the full trade. It could be a case of not enough trades to make it show up.
What are you thoughts on the matter?