• Registered: 2007-09-06
  • Posts: 34

Topic: Patient Strategy. Does the Tortoise beat the Hare?

What is wrong with only Taking Profits at, say 85 pips each time, and using maximum leverage of $500 down per trade (=1:200 or .5%) and pyramiding by buying more conracts at $500 down each time you Take Profit and waiting for another promising entry trade. If you are patient and can wait for months to have a trade made and the Pair doesn't Whipsaw sideways at less than 85 pips it should prove highly profitable in the long run and with no drawdown (except for spreads & carryover pips)? If you only day trade and only take inter day profits of 85 pips, then you wouldn't even have any carrover pip charges.

Please correct me about what is wrong with this Strategy?

Thanks

Cogito Ergo Sum
  • Registered: 2007-09-06
  • Posts: 34

Re: Patient Strategy. Does the Tortoise beat the Hare?

This Take Profit Strategy would only work if there was no Margin Requirement. The Broker's Margin requirement will create an automatic stop loss when the account equity goes down to the margin amount causing a loss to be taken before a profitable reversal later occurs.

Cogito Ergo Sum
  • Registered: 2008-10-01
  • Posts: 1

Re: Patient Strategy. Does the Tortoise beat the Hare?

I read you post I think is interesting. But I have a couple of questions, if this strategy working for MT4? And how much money you got with this for how long? I want to try it, but give me more ideas to use it!

  • Registered: 2008-11-05
  • Posts: 5

Re: Patient Strategy. Does the Tortoise beat the Hare?

Don't know if this thread is still active. Interesting one.
But i am not sure all brokers agree with patience. Don't they have some kind of fees to maintain your orders live during the weekend for example ?

  • Registered: 2008-12-10
  • Posts: 17

Re: Patient Strategy. Does the Tortoise beat the Hare?

I totally agree with you guys, patience is a good tip for traders as in real life it is. controlling all kind of emotions is an important matter in here, because it sometimes is the cause of commiting mistakes and lose pips.