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I wasn't suggesting to use a trailing stop as the profit exit, I was just suggesting instead of closing the position after 15 minutes, would it work to tighten the stop and let it see it can still hit the fixed target within the next 15 minutes. Presumably one or the other should happen by that time. That's all.
The following 2 users say Thank You to vegasfoster for this post:
If you enter on low volatility, basically you just need to sit and wait until volatility takes off. If it fires in the wrong direction, you are left with a small loss. If you are disciplined, you are safe.
So, if it goes off in the right direction, you need to have the optimum exit strategy, which does not get stopped out too early and ehich does not cut profits short either. Very, very difficult.
I am only exiting the first half of my position for psychological reasons. It makes me feel better, if I take a profit on half of my position, as this profit covers my potential loss on the second half. I am now playing with the money of the house, and the tension goes down. I feel that I have left the danger zone. Being more relaxed, I will then better trade the second half.
Only caveat with this: If you look at the expectancy it may not make sense to take a quick profit on the first half of the position. But I am not a machine.
The following 6 users say Thank You to Fat Tails for this post:
There is a double inside bar on the S&P Hourly Chart- right now, who's playing that ?
You know what you know but you do not know what you do not know.
You do not see things how they are, you see things how you are.
In life you do what you want but you do not want what you want.
The following user says Thank You to gabga100 for this post:
