Jhx wrote:On a side note, and I was thinking about this on Friday when I had two wins for +0.84%. I'm not losing more than I'm willing to lose on my trades and I'm keeping it at 1% per trade and adjusting my position size. The problem is if I lose, I'll lose the 1% because now I'm not "cutting it early", and my winners on average won't be over 1%. It's tough, at least to me, to have bigger losers than winners (even if the winrate is high enough, the losers feel heavier). It might be a personal thing, I don't know.
The whole idea about 'widening' my stop to places where it made sense was to give the trade more room to breathe and not get stopped out constantly at unnecessarily tight stops.
But maybe now that I have a wider stop I can use that "extra space" to exit at better places and reducing my average loss...
I don't kow if there's a better way to do it. This one's the best that I can come up with (exiting at previous lows when going long) but even then some of those feel like very in-the-moment type of exits (the second, third and fourth).
Yes the downside is that it could reverse, then go back up, which gets into the exit > re-enter > exit > re-enter cycle that I was at the first week. Is there a point where I should scratch the idea, not re-enter at the trigger and just say "this one isn't working today?" or should I just keep at it? It's not like I'm going to have 20 entries in the day anyway, but maybe I'm looking at this whole thing with the wrong perspective. I don't know.
1 minute charts are sick