Just use the same relation, ie. same percentage(s) regardless of # of contracts... All should be seen as relative... I would stick with the stop and target percentages that work for you. Sure you can experiment for more profit, but there is no general formula for stops and targets. Much depends on volatilities (HV, IV), volume etc. And I doubt it has anything to do with the # of contracts. Btw, are you saying you make 100% per trade? What is your monthly performance?
Thank you speedo. I appreciate it. Thanks for sharing. Yes, after thinking about it and keeping it simple thoughts, I am will stick to simplicity and play the all in and all out for now. However, I will monitor each trade to see how well it does when scale out. Testing is the approach for now.
Thank you marsman, I will trade all in and all out. Its too much confusion trailing stops and I want to be in and out. I trade paper money for now with one contract until I make $5000, then I will go live with $5000, and go from there. No, I don't make 100% ROI every trade, I take losses like everyone else. But I want take if I don't see the potential of earning ROI of 100% (sometimes +50%). That's just how I think for my strategy.
Why wouldn't the strategy work for more contracts (2,3,5,10) if it works for 1 contract ? Now if you were talking HUNDREDS of contracts, that would be a different story.
Actually I thought about hedging with NQ my bets on ES. Could possibly find a little something btw this two. Don't know if I should or not. Will see. The correlation ain't perfect ... But quite good though.