I sat down the other night with excel and tried working out better ways to scale out.
But I trade between 1-3 lots, so when I scale out at halfway, let’s just say $1,000(100pips) trade at a 1.0 lot. When I hit $500 I close half my position so I really pocket $250.00(at 50 pips, 0.50 lot). The remaining trade, if it runs till full TP, then that’s 100 pips at 0.50 lot which is $500.00. Only reason I hate scaling out, but I rather take what I can get from the market. lol
I tried working out opening 2 trades with 0.50 lots, and having one TP at 50 pips and the other at 100. Which is the same money as above but now dealing with two trades lol.
I even tried doing 75 pips and then scaling out. Which did give me a little bit more money but at the mercy of the market. I don’t like seeing a trade turn red after being up 30 or so pips. So I rather take what I can get when given to me.
I would say about 60-70% of my trades hit full TP, but still I don’t like that other 30-40% getting away from me if I just let them run without scaling.