Re: [CHALLENGE] Can I go from $100 to $80000 in 2021 (+80000% Growth) ?! 😲
Do you use bollinger bands indicator?
No, I'm not actually. For some reason I've never gotten into that indicator. I feel like I don't need it.
Question, are you going to adjust stop loss if you pop a 2% gain to let it ride - or are you going to strictly close out the trade 2%.
I would recommend to watch my Youtube video where I explain most of my strategy. I will post more videos with more details of course, but the first video covers the foundation.
https://www.youtube.com/watch?v=mqTq8IEghYM
The short answer to the question is No, I will not adjust the stop loss or take profit. I feel like it's much easier to follow-up on the results and see where I need to improve if I keep the same R:R every time.
When traders manage the stop loss and take profit manually, it's so common to cut the wins too early but keeping the losses for too long.
Also, having the same R:R on every trade keeps my emotions in check as well. Plus, it's a lot less time consuming to trade when I don't have to manage each trade.
I will get in, then close the charts and do something else. Then I will get a notification when the trade is either stopped out - or profit is taken. Then I can look for another trade.
I hope that helps
