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Profit Management
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Profit Management

  #1 (permalink)
Elite Member
Chicago, IL. USA
Futures Experience: Advanced
Platform: IRT
Broker/Data: Stage5/IQ Feed
Favorite Futures: ES
Posts: 32 since Oct 2011
Thanks: 22 given, 67 received

Profit Management

I am trying to determine the "best" (forgive the word) trade management strategy. (for myself)

1. Trailing Stops?
2. Long Range Interday Targets?... (I use Market/ Volume Profile)
3. Fixed Profit Point exit?
4. Scaling?

I use indicator based entry triggers but I am discretionary for exits... I prefer to catch good rotations and if I see a interday trend change I try to ride it until it takes out the opposite extreme..

I use a trigger and an entry.. I don't pick tops or bottoms..(still waiting to get that one down I wait for a interday trend to be established and then use a pullback to enter as a continuation. If I see a good move out of an area, I will often add higher up (if long) on another entry... I "assume" if I wasn't long & I would take the entry, why not add back what I scaled out of - not sure if it is statistically valid.

The dilemma, of course, is which exit approach seems to work best. Since I cannot back test, other than manually, I am hoping those of you who are automated might shed some light on what seems to typically test out well.

I believe in simple.. I trade ES and typically shoot for first scale at 1.50 pts.. I risk 1.25 pts per contract..

When I tick my 1st target @ 1.50, I bring my stop to B/E.. then I wait...

Those of you who have tested, does a fixed exit, like 1.5pts all out work better than shooting for longer targets? Since the probaility of hitting 1.5pts is higher than hitting longer targets - what typically tests out better?

DO you add on rotations against the trend as long as the trend holds?

These questions may seem not seem answerable since everyones approach is different but no matter the timeframe, I believe we all have the same issues with trade management.

I'm hoping to gain some insight from those of you who have mined the data and what seems to work over a large sample size...

I do well with targets..of course sometimes the market will have to rotate against my position and take me out and those are the times that giving back $ can be psycologically disturbing..Even with trailing stops, recent Swing h/L you still give a lot back.... if you trail too aggressive you get knocked out and lose your trade location... I know there is no "perfect" strategy but I am hoping there are some strategies that have been observed that you can share with me...





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