Question about using "Inside Bar" indicators

Hello, I am a newbie to forex, and after trading a practice account for about 6mos, I’ve gone to a live account.

Obviously, I am still learning and trying to define my strategy.

I have a question about using Inside Bar combined with Bollinger Bands to set up a medium term trade. So far, I have had some success using this fairly simple system.

It works like this (I use the day charts):
I have my Bands set up on my default setting of 2 deviations over a period of 20.

To go short, I watch for the currency pair to hit or come very close to the upper band, then watch for an inside candle. Once the inside candle appears, I go short at the opening of the next candle.

I place my stop a couple of pips above the previous candles high, and then set a trailing stop at the 20-period SMA.

My question is this. My last trade using this set-up was to short USDCHF. The pair fell below the 20-period SMA, and I set my stop there. The pair continued to fall for awhile and then retraced back to my stop.

I stopped out with a gain of 148 pips (my best live trade thus far).

After I stopped out, the pair retraced more, but is now falling again and has once again passed the 20 period SMA and passed where I stopped out (perhaps continuing the original trend).

What are the opinions out there? Does anyone think that this pair has fallen back into the trend that my original inside candle signaled, or do you think that once I was stopped out, I should just wait for a new set up to appear, and forget about this (potential) trend?

I am open to any imput, and thank you in advance for your opinions.

If what works for you works. Price is always going to show you how you could have made more pips here and there. Stick to the set up that’s working for you.

During your 6 month demo period have you remained loyal to the original triggers & management of your strategy?
If so, & it has continued to return acceptable odds, why are you now requesting feedback about changing the structure of the model?

I�m not criticizing, merely curious as to where you�re going with this request.

Rather than potentially complicate the basics of what you�re doing & maybe upset the rhythm of your simple, effective structure, have you explored the option of maybe re-jigging your trade management aspect?
For example: booking partial profits at your 20 sma on part of the trade size & running the remainder with a trailing stop if/when price resumes the original bias/trend?

Thank you mastergunner99 and Tess for your thoughts.

Tess, no offense taken. Actually, you’ve asked me the right question.

The thing that has changed for me the most is the amount of time I have available to trade. I work in a semi-seasonal industry and work extremely long hours when its busy, and little to no hours when its slow.

Now that I’ve slowed down for a few months, I am eager to do more trading. The thing is, my system creates few set-ups, and doesnt require much work once I am in a trade.

I think the best thing to do instead of complicating the system that is working, I will go back to my practice account and try out different methods there. At the same time I will watch for the next set-up in my live account.

I’d actually wouldn’t mind seeing examples of your set up.

Tess you’ve been really helpful thank you. I will try out some different time frames and look into the other thread you mentioned.

As for the set-up, your charts are spot on.