Sometimes, once I enter a position, I immediately put in a trailing stop of 1%.
That’s my risk tolerance. For any trade, I am prepared to make a 1% loss if the trade doesn’t go the way I expect it.
Sometimes I break even, sometimes I make more than 1%, sometimes I make 2-3% (which is my target profit), sometimes it goes to the moon.
Of course with a 1% trailing stop I’ll always make 1% less than what I could have made, but who can tell for sure where the bott...