A gentleman, colleague of yours asked me about my target on a specif trade idea I mentioned on my previous analysis.
To ilustrate my answer I chose the audusd daily chart where I currently have an open short position.
We seem to always focus on our entries but as important or even more is where we exit.
On my research and testing I did seem to always want to quit my trades early not allowing for the potential trade to develop.
It was when reading some insights of famous professional traders when I saw that they were making money with a winning % of only 30 to 40 % when swing trading.
But when they cought a trend it made up for many, many losses putting the account into positive balance.
Therefore as you can see in this chart I will hold on to this trade as long as I can either I am stopped out when trailing my stop or when I find a setup to go long then I take my profits.
I will keep you updated on this trade management style about which I hope to be able to provide more insights in the future.
It is my pleasure to be of service and to wishyou the BEST OF PIPS.