Here's a summary of that last trade. You could make a good argument to exit this guy the 1st, 2nd, or 3d time it went back to b/e + a point... Again, here's how I am handling the initial phase. In reviewing my past trades I've gotten into a lot of trouble by using discretion after I put the trade on. Usually I get swept away by emotions, cut off a winner or hold on to a loser. So for a while I'm going to handle this phase with a strict rule: trail 5 pts till target is hit or stop hits breakeven. Period. After a few weeks of this I may add some discretionary rules to the initial phase. As of right now, i'm keeping it mechanical and will get a sort of base performance to work with. Then, if I later add rules for the initial phase, I can see how things change, better or worse.
Pete, Do you have enough trades to run a MC with your new trailing stop strategy yet? Good trading Chris