Post your live Forex trades here...
- Thread starter xelite777
- Start date
Stopped out at break even.
Total P/L so far since beginning of the thread (18 days) : minus 110 pips .
Open position : long GBP/CHF at 1.5080
GBP/CHF (15 min) ready to breakout from that triangle...?
Moving stop to break-even.
Stopped out at break-even.
Notice how moving the stop to break-even after X pips profit usually prevents marginally profitable positions from hitting the stop and becoming losing trades (even though in this particular case the stop was not triggered).
I notice you are terrible. Moving the stop to BE after it goes in favor 25 pips to prevent price coming back into some DD doesn't mean you stopped a winner from being a loser.
You're picking arbitrary PT's/SL's. In fact, you're just straight up gambling blindly with bad luck.
One could also take some partial profits, which would be enough to allow them to keep the stop in its original place. You are going to need more than just trade/money management though...
My system lost 110 pips in 18 days, end of story. Even highly profitable trading systems lose money from time to time.
But I suppose your own system (assuming you have one...) never loses money and just keep making new equity high every single day, of course.
True.
But my backtest shows that it is still the optimal trading decision, as far as my trading system is concerned.
If you say so.
I also tested that idea (trading 3 units for example and then selling the first, the second and the last unit at predetermined levels). It degrades the performance of the system while making the drawdown bigger, because when I lose (stop is hit before price reaches first target) I lose 3 (very costly) units instead of one.