aliassmith wrote:prochargedmopar wrote:aliassmith wrote:
Ya its nice and pretty in hindsite. Once you see and understand whats happening you need a plan of action to collect those pips.
Your entries look decent
You need to set an exit plan which is an important part of trading that people forget about and is the most difficult.
The trade I recently posted was about 2x but I think it went about 5x and I don't care. You can't get all the pips and at some point you have to be happy with some of the pips. If its greater than 1x than good if I get good timing and catch 5x then that works also.
The "decent" entry would have been here (at the H4 ZL),
but that has nothing to do with a Dead Horse.
I would say that 1:1 is unacceptable.
2:1 Min.
Otherwise recovery AND mental psyche is hard to maintain.
What I'm marking, and trading on m5, has been "working for me" so far.
Let's see. Got a long way to go.
Just imagine if YOU or I never had to lose more than 4 pips on ANY trade for the rest of our lives.
Fear of engagement would be drastically reduced.
Profits drastically increased.
Partials would make much more sense as the R's multiples on runners would actually pay something.
JMO
aidh2.JPG
I believe it to be relative. If you track stats of your "trades" then you may find 4:1 is the best overall time to take profit or it could be 1:1 you wouldn't know without that research data. Other than actual data your opinion is anecdotal at best.
If you only ever lose 4 pips what if those 4 pips are worth $4000?
What if you need a 6 pips SL is also $4000?
Its relative, from my research.
Market structure plays its part in determining these values otherwise you are trying to mold the market into your box.
Anecdotal at best?
Hmmm
That sounds like all these Vegan Tree huggers that say diets like Carnivore, Paleo, Keto are N of 1.
When millions of people have an Anecdotal cure for their Diabetes it's not an N of 1.
And, we don't need no stickin' studies to tell US either. (those are coming down the pipe anyway to the chagrin of Big pharma and the food industry).
Anyway,
Doesn't matter that 4 pips is $4k.
All it means is with a very high win % AND those wins being 8, 12, or 20 pips at a clip, We be bankin'.
Those 4 pippers need only "cause us great laughter". MO
Taking 50or 70% off at 2:1 or better also means what's left running will actually earn some dang $$$.
Now, to make it TRUTH.
