Thanks to all of the excellent wisdom on this site, I have greatly improved the win ratio.
However, my problem has been trade management, stop loss versus take profit etc...
Often I would take small profits, while at other times my stop would be hit and eat up the small profits. Very frustrating.
I came across the following article while reading some Sam Seiden stuff. This article really made some things clear. I thought I would share it here for others who may get benefit. Enjoy.
Vincent
http://www.yourtradingcoach.com/product ... rategy.pdf
Are you Struggling with Trade Management and Exit Strategy?
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Very informative. Thanks for sharing. It is the exits and not the entries which actually determine the outcome of our trades. It is important to understand the volatility characteristics of the market we are trading before setting a stop-loss and profit target. I think when testing the validity of an entry method it is best to begin by simply exiting the trades after a number of bars. If we do anything more creative than this simple exit we will find that we are really testing our exits, not our entries. If we change the exits while attempting to test an entry strategy, the results will vary so much, depending on the exits selected, that we will find that we can not make any valid assumptions about the reliability of the entry. When combined with the right exit the entry strategy looks great. When combined with the wrong exit the same entry looks terrible.
Profitable trading to all!
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