I’m guessing that you want to know more about [I]exits,[/I] rather than entries.
Your question #1 implies that you have a 50-pip stop-loss — or, that you think maybe a 50-pip SL would have been a good idea — and, therefore, a 50-pip move against you indicates a possible failure of your trade.
And your question #2 implies that you think a certain profit target should have been reached in a period of one week, and therefore, failure to reach that target indicates a possible failure of your trade.
The portfolio methodology, as originally detailed by Mastergunner, contains no specific rules for exiting a position. There is nothing in the methodology regarding an initial stop-loss, or an initial profit target.
In simplified terms, the methodology involves identifying and entering a valid trend, and holding your position for as long as the trend remains valid. Obviously, this requires a solid understanding of trend-trading, including successful strategies for (1) identifying a trend, (2) entering in the direction of the trend, and (3) identifying the end of the trend.
[B]In the Mastergunner Portfolio Methodology, the end of the trend is the basic exit signal.[/B]
Mastergunner has not specified rules for identifying trends; instead, he has left it to each trader to use his/her own preferred method of trend identification. There are many ways to identify a trend, and entire books have been written on that subject. I’m not going to attempt a review of those methods. You can study trend-trading on your own time.
I will tell you that my preferred method involves simple trend-lines and trend-channels, and that I define a breakdown of the trend as a retracement (of a certain size) out of the trend-channel. The retracement which triggers an exit (for me) is the close of a daily candle below an up-channel, or above a down-channel, by more than 38.2% of the channel range. For example, if an up-channel has a range of 200 pips between channel boundaries, then the close of a daily candle more than 76.4 pips below the lower channel boundary signals an exit of the position. Why 38.2%? Because it’s an easy percentage to drop onto a chart using a Fibonacci tool, and it seems to work.
None of the above is meant as a recommendation for you; it’s merely an example. Develop your own ways of identifying trends, and identifying when they collapse.
A number of traders on this thread have introduced the idea of adding stop-losses and profit-targets to this methodology. And that can definitely be done successfully. But, it represents a different trading concept from the one outlined by Mastergunner; and, if you go that route, you need to understand that you are trading a [I]variation[/I] of the original methodology.
To return to your question #1, above, if you are a competent trend-trader, then part of your competence involves being able to select good entry points. Generally, this means entering a trend, in the direction of the trend, [I]on a normal retracement within that trend.[/I] If you get it exactly right, then your position will move directly into profit, without retracing further. In other words, you won’t suffer an initial loss (on paper), before moving into profit.
If you’re good at this, you may decide that (1) when you get your entry right, you don’t even need a stop-loss, but (2) when your entry is defective, you ought to bail out before your loss exceeds x-number of pips. If that’s how you determined the 50 pips mentioned in your question, then it might be a very valid exit strategy. Once again, it’s a variation of the basic Mastergunner methodology. [B]But, what matters is what works.[/B]
If “bias” ( as you are using the word) means the same thing as “trend” — then, yes, hold onto those trades — if you intend to trade this methodology the way it has been presented here.
Re-read the two statements in bold type, above.