After my entry, say LONG, price moves from the possible HL towards the previous NSH and achieves 50% of that distance. I then reduce my risk by moving my SL below the possible HL -2 points. I would continue moving to BE like normal after price achieves 100% or tests structure in that area.
Employing this strategy over my last 108 trades….
# Wins drops from 75 to 68 – meaning there were 7 trades out of 75 that initially went in my favor, and then turned against me, and then continued to the target.
WL% drops from 69% to 63%
Average Winner vs Average Loser significantly improves from .86:1 to 1.27:1
240 points were saved on the losers, but 275 points were given up from the previous 7 winners mentioned.
The overall point total was 35 points worse which is basically a scratch/draw, no better no worse.
Mr. Pip I am still reading this thread from start to finish, I have caught up to early 2017, but in early 2017 you were still occasionally employing some strategy of reducing risk as your trade progressed, and before you achieved a BE. Obviously you no longer employ this strategy on the intraday level, for what reasons did you stop that practice? My analysis of my last 108 trades, though not significant enough in terms of iterations, shows this strategy is basically no better nor worse but I’m mostly interested to hear your thoughts on possible times to reduce risk.