Cornix's Forex Trading Journal

Nice triangle break out.

How is based your exit strategy ?

It seems you often take 6-8 pts when the market can give you much more.

Obviously it works for you but have you tried to adjust your exit on price action as you do with your very precise entries :) ?
 
Exits are very simple: as price starts to stall when trade is ITM enough, I bail.

Often market indeed offers much more than I take, but quick scalps make equity curve much smoother and emotionally that's more comfortable.

Statistically I know for sure that holding for more would make more pips fall in my pocket, did the corresponding homework.

But currently preffered the least stressful way to trade vs. the most profitable. :)
 
So runners occur mostly when market really breaks out and doesn't look back. Then I can take 20 or even more pips on a single trade.
 
Ok I understand you're not willing to accept any retracement for the psychological comfort it brings.

I must admit this is very difficult to hold a winner (especially when you're in the middle a trend) and your strategy is absolutely fine as long as your R:R is good.

Was also wondering, your losses are usually very small: are you able to cut these manually or do you have a fixed stop loss when you enter your position ?
 
Always have fixed stop-loss attached to the entry order even before I enter a trade. Amount of that hard stop-loss is 6 pips. But I tend to make it even smaller according to price action after the entry, so actual losses are often smaller, like 3 pips etc.
 
Quote from cornixforex:

Always have fixed stop-loss attached to the entry order even before I enter a trade. Amount of that hard stop-loss is 6 pips. But I tend to make it even smaller according to price action after the entry, so actual losses are often smaller, like 3 pips etc.
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am surprised, you're not trading spot forex but fx futures right?
 
Quote from soonhwei:

am surprised, you're not trading spot forex but fx futures right?
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Trade both, but mostly spot. Spreads these days allow for very tight stops.
 
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