@Roylow3000 Thanks for the kind words... I understand exactly what you conveyed in your first post but perhaps you are fixating too much on rock solid numbers/percentages... Rather than doing that, wouldn't it be more beneficial to focus on guaranteed profit rather than what you feel is the need for an exact amount...??? After all, you probably won't get filled at that exact price anyway...
My point is, and I'll reflect on my own trading here, I got into a bad habit of fixating on maximum profits after being on a winning streak... That caused me to lose focus on taking what profit I could and let greed cloud my judgement... I got into the bad habit of thinking "It's going to keep going up so I'll move my Limit order higher, and higher, and higher until the price tops out" and ended up getting shredded trying to catch falling knives, over and over again... Those big wins turned into losses because as the price dropped even a Flatten order wouldn't get filled because market makers and institutional traders got filled first, leaving me with little or no profit at all... So, the only real fix was to go back to taking set profits during upward momentum and accepting that it's okay to leave money on the table... By almost never bumping up a Limit order the profits came... Not as big as I might like, but more wins than losses... Small wins are far better, psychologically, than losses... In short, sometimes we have to pick our battles...
In short, we don't always get the answers we want but, instead, perhaps the answers that we need... So, is 80% of potential profit really that important, or is just making profit good enough...???
Now, you just posted while I was writing this... So, if you don't trade in TOS, do you just monitor price action in it...??? What do you use for your actual trades...??? Yes, any Limit or Stop requires an active trade... However, a Study could be written to monitor the profits of a trade by merely entering your entry price and letting it alert you when to exit...
