I trade NQ's and once up 10 handles, I move my stop to break even... My max risk on NQ's is 20 Handles in general to understand my risk profile.
I made a change recently which might answer original posters Question:
I now scale into a position, lets say from the short side, Last night at 1100pm I shorted NQ's at 7169 (first lot), I then shorted my 2nd lot at 7173 (2nd Lot). Scaling in.
first Lot, once up 10 handles move stop to B.E. 2nd Lot don't move stop to B.E. and keep the 20 handle stop loss on it. 2nd Lot I also loosen up target profit level and look to make bigger money with the looser half of the trade.
First lot target exit 7001. 2nd Lot Target ext 6981.
I did this exact trade last night... and it was the trade of the quarter for me... big $$$$$. I woke up this morning and when I looked at my screens through my cell phone at 5:45am, I could not believe my eyes
I was having the same issue as you, getting stopped out too often... so I loosened my parameters and was only tight to the once up 10 handles resort to break even on HALF of my total position. In other words I let half of my position flop in the wind a bit with a rigid stop loss of 20 Handles and the other half once up 10 handles move break even. I back tested it on all the crap I trade and let's say instead of making 10k per month, the results changed to about 12.75k per month.
It was the prettiest trade I've made in a while:
Also, one last point. You need to harness the randomness of the market. You need to have a function that lets runners run, or a portion of your position be a bit looser then your other rigid side. Harness some randomness. The reality the market is somewhat random, and if you are looking to have ultra rigid rules, your results won't capitalize on moves you would prefer to be in.
An exact answer is difficult to find.
I made a change recently which might answer original posters Question:
I now scale into a position, lets say from the short side, Last night at 1100pm I shorted NQ's at 7169 (first lot), I then shorted my 2nd lot at 7173 (2nd Lot). Scaling in.
first Lot, once up 10 handles move stop to B.E. 2nd Lot don't move stop to B.E. and keep the 20 handle stop loss on it. 2nd Lot I also loosen up target profit level and look to make bigger money with the looser half of the trade.
First lot target exit 7001. 2nd Lot Target ext 6981.
I did this exact trade last night... and it was the trade of the quarter for me... big $$$$$. I woke up this morning and when I looked at my screens through my cell phone at 5:45am, I could not believe my eyes
I was having the same issue as you, getting stopped out too often... so I loosened my parameters and was only tight to the once up 10 handles resort to break even on HALF of my total position. In other words I let half of my position flop in the wind a bit with a rigid stop loss of 20 Handles and the other half once up 10 handles move break even. I back tested it on all the crap I trade and let's say instead of making 10k per month, the results changed to about 12.75k per month.
It was the prettiest trade I've made in a while:
Also, one last point. You need to harness the randomness of the market. You need to have a function that lets runners run, or a portion of your position be a bit looser then your other rigid side. Harness some randomness. The reality the market is somewhat random, and if you are looking to have ultra rigid rules, your results won't capitalize on moves you would prefer to be in.
An exact answer is difficult to find.
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