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What is your TP and SL? What's your win ratio?
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[QUOTE]Originally posted by permanentjaun: [QB] Yea I've read the market wizards books, and understand their trend following ways. The trailing stop loss is a simple method to remove emotion and follow the trend, but I just don't like it. I don't want to be up 6% on a trade and then it tanks to leave me with only 1%. I don't want to be up 9% on a trade and then have it tank to only 4%. I'm happy with locking in the 5%. It's still possible to make plenty of money off of only 5%. I'll have to look through the market wizards books, but I don't remember reading any one of the traders saying locking in profits was a bad strategy. The whole idea of the "letting winners run, cutting losers" is just an easy way of saying make sure your money management risk/reward is a sound approach. Now if I was looking to make 5% on the wins and 20% on the downside I think it might be more of a slap in the face to the famous traders rules. That's why I mentioned I think Pcola has some cajones for the way he/she trades. It works now, but I imagine in the future as he/she has to grow into playing only larger stocks it may turn into a problem. [/QB][/QUOTE]
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