I’ve started moving sl to be at 30 pips and just take 10% off. Then take a large amount off at a short term swing projection (4 pivot fills, ADR, etc). Move protective stop up to lock in more and let the rest ride for weekly range.
Truly outstanding results LTPP.
If I understand this correctly, based on this method, you are frequently positioning yourself to bank on letting profits run and manage SL to keep losses low. Many trades may not get there … and you may not make much out of those … but the ones that run at the scaling % you are using generate a large % profit.
Clearly it is working very well for you. I just hope it remains effective when you move to a live account.
I think the reason for taking off 30% at 30 pips has to do with the psychology aspect, something you might not be fully experiencing with your demo account.
Exactly. Tailoring it for my style.
Personally, I don’t look at a trade that I get .2% negatively. Or if I don’t take anything off and he breakeven. I consider that a win.
With my personality type, I get angrier if I take 1% at 30 pips and 3% at 90. I’d rather take 6% at 90 or 0.
This is essentially what ict does as I move to take risk out shortly. But my personality is happier taking more off at the big wins compared to taking some off at 30.
For about 2.5 months now, I’ve been profitable and winning about 60%-65% of my trades. My return is higher because I let larger portions run longer and satisfied with a 0% breakeven.
I think you need to find something that fits your personality. If you get emotional about being up by 30 pips and see it evaporate and get mad because you didn’t take more off. This isn’t for you.
But if you’re fine letting those go and happier with more home runs, my style works.
The most important thing is to figure out your psychology and what causes emotions in you. And tailor it appropriately.
Just my 2 pips.
But the main concept that I learned from ict is to remove risk from the trade early. After that, exit strategy should be personal and not mimic another’s system unless you’re comfortable and emotions are in check.
That’s a fair point. I’m treating the demo as real as it can get. I need to double my demo account before the wife will let me invest some of our money into it.
The initial investment will be 1k. When I double the 1k, we will put a substantial amount into it (5 figures type investment). Goal is to get to about 1mm in 24 months. And pay off all debt (mortgage and business loan) by 30 months. Then retire.
But it’s a fair point. We’ll have to see when it’s real.
But my audusd trade was up 150 pips. I entered to be a long term buy program trade. Was up 10%. I have no regrets about it. My wife is ticked saying take some off. Or close the whole thing at 10%.
I know my personality. Id rather get 0 going for 30% and hit That occasionally. Just the way im wired.
That is a pretty good psychological constraint. You must perform or the wife says no; maybe there is some kind of forex viagra.
Sorry off track. Keep it up.
That’s what she sai…nm.
I’ve found taking “some” off makes your winners SMALLER.
Leaving your losers to be BIGGER.
Totally backwards of what we are suppose to be doing to succeed. (maximize profits/minimize losses)
The #'s don’t LIE either.
I guess this is just my opinion, but I would be extremely concerned about taking on forex as a husband/wife “team”. Once real Dollars are involved, I see this becoming an emotionally explosive situation : /
The transition to a live account environment has proven to be a “rude awakening” for many, many well-intentioned traders.
but man…I can’t imagine my girlfriend (future wife 
) giving me sh*t for my trading decisions, haha. I do my best to shield her from my trading problems. When I started trading real money, I’m sure she could tell when I was losing money and when I was making money. But now, I’d like to think that it is impossible to tell, and that is something I am proud of.
That said, I really do like your 1K starter account idea, along with the “don’t add more til success is proven” philosophy.
Best of luck, I do believe you will find your success!
Very good pimpin just for a referance for my self could u give me an idea how long u been trading and also how long did you studie before you started trading and also did you use a demo account and for how long.
I was reading through the thread again, and I realized I’m making a huge huge mistake… and without even knowing it!
My intention was to start with about half my capital and then add the other half slowly, as not to get ahead of myself. I was going to trade 2 accounts. My plan for the other account was to practice position trading. But after trying it for a few weeks, I realized it was just too much for me to do at this time. I’m still learning my routine, so I thought it was better to just focus on the one account for now. So then the money was sitting there for about a month, and I thought the money looked awfully useless sitting there. I kept adding more to my main account because I hated thinking about “lost opportunity” when I was getting winning trades. So really, I wasn’t happy with WINNING, which is kind of a major problem. It’s greed and impatience and it stinks!
Starting back at $2,000 starting next week.
…and for those wondering, I did stick to the ICT drawdown technique, and it truly helped my mental state calm down A LOT. Extremely helpful… it’s like Tylenol for a headache haha 
But I will be resetting my equity High to $2,000. This is a complete re-set. The old account can be labelled as a fairly inexpensive lesson. It had a Net Loss of $99 and may it [B]R.I.P.[/B] :43:
Here is my Feb. 10th 2012 trade on the GBP/USD pair
I put all my analysis in a word document because it’s easier for me to write up and paste pictures to it then typing out a long message on this thread. I know some of you wont check it out because of this but I would appreciate any feed back on this.
I enter short at 1.5840 which was 7 pips from the high of the day
I took off 50% at 1.5740 which was 11 pips from the low of the day
100 pips and I didn’t take profit at 30 pips because I was running late for work
I think my analysis is pretty good on this one and think I can expect it to run for a couple more days, hopefully.
Well here is the attachment, enjoy…
GBPUSD - 021012.zip (205 KB)
Thanks
PIPHanger
Excellent analysis and execution. Very helpful. Thanks!
I loooooovvvvvvvvvveeeeeeeeee this video!!! Great job ICT!
What time was it? Was it a killzone? Maybe you tried to enter a market while one markets players have already made a move while others were just sleeping or drinking morning tea. It took my quite some time before i started respecting time killzones.
This is the key, recognize your mistakes and correct them. Good work. We’ll all make plenty of mistakes throughout our trading lives The difference being those of us who recognize and correct our mistakes will go on to be more successful than those who continue to repeat them. The faster we recognize them and correct them the faster our accounts will grow!
"Millionaire Traders Guild"Trailer.
Only one word…
EPIC!!
Michael, you are one of a kind. So much effort put into making those videos. Entertaining and educational. Very generous of you. Hope you get whatever you want.
Video is excellent but the comments on the video super excellent.