Quote:
Originally Posted by mumpips
Hi Phil,
If my target is only 100pips per week and i exited everytime when the trade hit 100, will there be any unforeseen issues that I will face in long run? 
Pls advise.
Thanks |
Yeah, if you consider losing money an unforeseen issue...
Seriously though, I'm 95% sure this strategy will end up losing money in the long term if you go with a set TP.
The main problem is different market conditions. You might have made more money in the last few months (or even this whole year) using 100 pips, but in years like 2008 you would have lost big time. You need some type of criteria that moves with the markets, like ATR, ADR, candle sizes or something along those lines.
If you still want to change the numbers make sure you backtest it over at least a few years. If it comes out profitable then go for it, but I don't think it will with a static TP.