Take profit strategy

I use precision entries so usually only need a 10pt stop. In higher volatility conditions this might be extended to 15 to 20pts.

Taking profits #

• I take 50% of the trade off once it is 20pts in profit (i.e. 2:1 reward to risk )
• The target on all trades is 50 pts or 5:1 and the remaining 50% is closed when the trade hits this level

Stats #

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Stop to Entry #

By default, trades go stop to entry once they hit 1:1. This increases profits by a small amount, but real advantage of doing this is that I can forget about the trade once it’s open and then move onto the next

If it’s stopped and the setup is still valid I can re-open the trade.

Stats #

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Adjustments for levels and PA context
#

• My trading strategy requires me to identify the levels where the Dax has the highest probability of reversing and/or breaking.
• I can use this skill to set higher probabiliy take profit targets, but for now, my goal is to increase my R per trade an using the fixed ‘set and forget’ strategy shwon above will achive this.
• Once I have done that I can get more fluid with my targets.

This strategy is not intended to maximise profits – the benefits are psychological. It is much easier to keep banking ‘+10’s’ than it is to take a sequence of losses and then have to run the big winners all the way to your target at full size.