Disliked{quote} Hi, I am not out to change your method at all btw, on the contrary, I happen to prefer independent thinkers who don't heavily rely on being spoon fed (nudging is ok though) and it is your own method and that is important, and I actually think everyone should develop their own which I've conveyed once or twice lol. My real point however, was based on your success rate. You have said it is about 60%, that's ok I won't dispute that, but what if I said that could easily be hoisted to nearer 80% (imo) for your particular method, based upon your...Ignored
Hi Landline,
With a big enough Trading Account I could close half my position at +2R and allow the remaining half to run.
My success rate would increase if I reduced my TP to +1R instead of +2R but it would need to compensate for the lower R return.
At the moment I move my SL to Be +1 pip at +1R, I do get taken out at BE +1 pip quite a lot.
My hit rate would also increase dramatically if I was around to Trade all the Setups. (Today is a good example)
I'm sure there are many other things I could do to increase my hit rate but what I am doing does suits my personality.
I find it very difficult to exit Trades manually either for a Profit or a Loss this is why I use an EA.
I hate giving back profits this is why I move to BE at +1R and only Target +2R
I have found a +2R return is a good compromise, after +2R (+30 Pips) we often see a correction on GBP/JPY.
There are times when I exit a Trade far too soon, but I can always re-enter after another PullBack.
I'd be interested in getting a nudge sometimes we can become blinkered in our approach.
Attached Image (click to enlarge)
