Need to get more out of successful trades
on
I had a couple of trades today that went to 10R but my maximum gain was a 2.2 R.
The trades that did this were (1) the 3min BB reversal at the futures open here with the entry marked in gold, and
(2) the second break of the TL on the M1 chart
I always take 25% of the trade off at 1:1 because it halves the risk. The caution was likely because I had two very fast losses at the open so was 2R down by 9:04.
But, when the market is trending like this, the M5 20 EMA captures the first impulse move. On the M1 TL break this would have given my 8R. Often prices need to settle before the trend gets going, so this strategy is best used once a level has broken, and usually once the trade has made 1:1 otherwise it stops me out of valid trades.
