TwoHands, there are numerous options available.Take the...

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    TwoHands, there are numerous options available.

    Take the following example taken from one of my EA's on the GJ H1:

    This strategy involves a maximum of 10 trades in one direction at a time - in this case it got to 6 longs - with a fixed $ take profit target.

    The SL in this case is placed on each position at the lowest low of the previous 5 bars (the long entry is on breakout of a 5 bar consolidation of a certain range). So in this case the risk is fixed for each trade until the TP is achieved, or the stoplosses get hit.

    You can see before the basket of 6 trades gets started there are 2 long trades and even a short trade that hit their stoplosses because the run doesn't get going.

    Another option which I use on a 2nd version of the same EA is to trail the stoplosses to the lowest low of the last 5 bars as price moves in the direction of the trade.

    Those are just 2 options. The 1st option tends to produce bigger drawdowns than the 2nd option, but the take profit target gets hit more often - more room to breathe (for more risk) - but better return - the inevitable trade-off that gets made.

    I actually use both versions, because they each test better than the other on different markets and timeframes - so its just a question of testing a range of exit strategies (stoploss and take profit) plus other trade management strategies (max number of positions, entry signal, et) and finding which one(s) produce a drawdown profile that you can live with (personally I always prioritise minimising drawdown over maximising returns).

    Cheers. Sharks
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