Used to do OCO orders with a take profit at 130% and stop loss at 13% up till today but, after seeing several comments, decided to tweak it
Now I’m aiming for +30% take profit, keeping 13% stop loss
Betting on a higher success rate as, previously, it was 27% for +130% trades. Now I’m aiming for a 66% win rate
Guessed this rate based on my past success. I noticed I almost always get trades going up 30% (I have for the last 3 days), but then get hit by a reversal which erases all gains. This strategy aims to avoid that
Thoughts?
A wise person here told me steady gains were better than an occasional home run, really stuck with me
(I used to post my daily $ P&L here, won’t anymore as it garners a lot of criticism. Enjoy my P&L chart instead ha)
https://i.redd.it/x1oshu1pgeod1.jpeg
Posted by Ok_Bodybuilder_2384