Given my propensity to sit on losing trades until they take all my risk offered coupled with my desire to improve my sub-1:1 winners versus full risk losers ratio, I'm going to set my stops as I have always done, but if my loss per trade approaches 50% of my risk, I'll review with distinct prejudice, the validity of staying in the trade.
I expect to kill a few trades in the process that would have gone on to make profits, but I'd rather that than lose the full ante on every losing trade.
I'm also not going to 2nd guess my entry setup criteria as I did with the usd/jpy trade on Friday. I'll wait for the criteria to have formed.
And I'm not going to sit in any trade where if I had not been in the trade I would not have been considering going in, i.e. even if the trade is a valid entry, if price develops such that no entry setup exists any longer - I'll get out.
I expect to have an increase in losing trades, but equally expect to lose less than I have been in absolute terms off my P&L bottom line.
