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The problem with a 1-tick per day/trade approach is that you can't have many losing trades for it to be profitable. You need a high win rate. That or you'll you need a lower win rate, but with your average winner far exceeding your average loser.
If you use a 2,0 point SL - one stop out eradicates your entire prior 8 days of profit.
The guy I spoke to (and assuming he's not full of sh't as some believe) said he would take only one trade per day and that's it. If he lost on that 1st trade - he would carefully assess the market to see what it offered and make a conscious decision if he would risk one more trade or wait until tomorrow. He seemed very disciplined about that.
IMO, if you can't take 1,0 point profit with a very high win rate after years of studying the market and crafting your methodology, better forget about it and do something else.
Personally, I believe it's possible to achieve a very high win rate in trading. The problem with a lot of traders (including me) is that we enter too often and aint' picky enough with our trades.
I don't think I'm interested in going for a 1-point profit per day approach, but I found this old thread and wanted to share what I'd been told by some other guy. Also, for my own, I've wondered if a key to better consistency would be to get better at taking profits as my MFE statistics show that most of my trades are profitable at some point in time.
I like to rephrase it;
, if you can't take 1,0 point profit with a very high win rate in SIM after years of studying the market and crafting your methodology, better to stay in SIM until you figure it out or forget about it and do something else.