I have been in search of the perfect exit stragity. I think after all of my wild ideas I have come across something that might hold some wieght. My 2 newest Ideas are: Profit target is 1.5 times my risk with a trailing stop at 1/2 of my risk. ie. If my risk is 40 pips, my target will be 60 pips, so I will place a t/s of 30pips. I have tried this for the past week and although I have not lost I have left alot on the table. So I refined my idea I will now move my stop loss 25% for every 25% gain I get. example if I risk 40 pips, my target will be 60 pips, so when I have a 15 pip profit I will move my stop loss up to -30pips, when I have a profit of 30 pips I will move my stop loss to -20 pips, when I have 45 pips I will put my stop loss to zero. That way if I lose it all I will atleast get my rollover rates. Assumeing I have positive roll over.
Well thats it give it a try and give some feed back
Good Luck and keep your stick on the ice.