When do you go to Breakeven?
As I’m still searching how to trade on Daily time frame with ONLY 1 STRATEGY, with high profit factor (> 2 or 3), with > 70% wins, I think bulling ENGULFING or bearish engulfing can be the best pattern.
Actually, I lost money while trying to trade pin bars (entry at the opposite side of the tail, or trying to enter at 50% of its length) ; bad chance !
And with harami, I was sent to stop loss easily with a big engulfing candle next.
So if I trade only Engulfing candles :
- Do you consider only the body, or also the tails, to define an engulfing pattern ?
- Do you trade ONLY in direction of the trend ?
- Do you set a ratio take profit / stop loss of 2/1, or do you prefer trailing stop with low / high of new candle ?
- Do you enter at buy stop on high on candle, or straight at the opening ?
- When do you go to Breakeven ?
Thanks for all