Did some reviewing of my trading and how I take profit and just an overall analysis of my trading strategy so far. So here are some stats I came up with. Mostly about where and when to take profit. I want to do this once a quarter. But to finish out the year I’ll do one now and then one more at the end of the year, then after that once a quarter.
These only include my Forex trades along with Oil, Gold, and Silver. No indices or stocks in these stats.
Duration: 9/26/21-11/12/21
Total Trades: 111
Wins: 81
Loses 30
Win %: 72% (Which I don’t base a strategy off how much it wins just if it is profitable or not)
These next three should add up to 100%, these are from the wins not total trades.
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How Many Trades Reach Full TP: 10 which is only 12% of the wins.
Reminder that my Full TP is set at the other zone. - How Many Trades Reach TP2 then Retrace Back to TP1: 11 which is only 13% of the wins.
- How Many Trades Reach TP1 then Retrace back to BE: 60 which is 75% of the wins.
Then I wanted to know out of all the wins how many retraced down at least 50% of my stop before turning positive and reaching TP1 at least.
- How Many Trades Retrace 50% of the Stop Loss before Becoming Positive: 31 which is 38% of the wins.
Might be able to do some hedging as well.
- How Many Losing Trades Retraced 50% of SL then Came Back to Entry Price Before Going Back Down to the Stop Loss: 15 which is 50% of Loses.
So based off how many reach Full TP compared to TP1 or TP2, it seems I will come out better taking more profit early and then just letting the trade run it’s course. Right now I only take a third off my position size at TP1, I will bump that up to 2/3’s.
The reason I wanted to know about the retracing down to 50% of my SL before reaching at least TP1. I have toyed with placing a order at that 50% retrace mark in the direction of my trade. But instead of placing a full size order I would place a 50%(so for a major pair it would be a 1.0 lot). Also realize it increases my risk, but just an idea. I’ll sit down and work out the math.
The last bit with the how many trades retrace down to 50% then to entry then back down to SL. Was looking at a way to hedge some of my trades as well. But don’t want to run the risk of the hedge working against me which seems it would most of the time since my win% is ok and you don’t ever know which ones will be your winners and losers.