Ok...now be truthful here ok !
Forget the issue of running winners for a min. Do you find that you have the patience to wait for good set up entries ? If yes then how about doubling your initial stake...taking the momentum part and exiting half the position, allowing the remainder to be managed without the pressure.
Or even three positions and exiting 2 after momentum, so your worst case scenario is a good profit and not just a break even.
If you are going to use 3X the position size at the start, use a ROCK SOLID stop loss EVERY time.
I would NOT double or triple your entry position size unless you are really confident on the setup and it still adheres to the 2% or less rule of capital at risk for the trade based on where the stop loss is placed.
I used to have the same problem and have noticed that a EMA 13 and EMA 39 cross on the LOWEST time frame I look at has been a REALLY good sell signal for me. I usually trade using 3 time frames to corroborate my trade setup (usually weekly, daily, 60 min). So take a 13,39 EMA cross on the 60 min time frame. If you trade shorter time frames try it on the 15 min or 5 min time frame or whatever you use. It works really well and you stay in the short term trend until its no longer a short term trend. This simple rule has changed my trading tremendously.
Go back and look at the trade you did not reap as much profit as you wanted and see if this rule would have helped....I bet it would have made you more $$$.
Good Luck.
I don't see the connection between taking/exiting three positions and using 3x position size??
Telling people to ramp up size because they can't run winners is quite frankly idiotic. Those very same emotions which stop them maximising their winners will cause them to mess up their trade on 2/3 times their default clip, and the net result will be much, much worse! Horse manure advice. Nay.
I rather suspect that particular bit of "advice" was posted 4 lulz![]()
What is the matter with this thread?
There is no connection with the amount risked per trade and scaling out your position. (Unless your gearing is so tight you cannot have multiple positions, in which case you probably should not be trading).