I have an idea to preserve already earned profit, in the event of an account drawdown.
This is particularly relevant now that T7 is using 5 and 10 second charts and there are typically more trades opened and closed before the target for the day is hit.
There is, of course, built-in preservation of profit on an individual trade that T7 opens and manages.
I would like to request something similar (but simpler) for the “basket” of trades managed by TPT.
If, for instance, we have a profit target of 15 points and a stop of 50 points, I have noticed on several occasions that overall profit is positive on the day’s trading, but not high enough to reach our target 15 points. Then, due to adverse conditions, T7 opens a series of losing trades, and all that profit is wiped out and the 50 point stop hit. That stinks!
What I would like is a simple trailing stop along similar lines to TST and TSS on trades, to apply to the whole account.
So, we can set a point that the trailing stop will activate, in the above example for instance, it could be 8 or 10. When profit reaches this, it would lock this in, and the profit on the account would then be trailed upwards in the normal way.
I have a feeling this would really help to improve performance.
What do you all you happy campers out there think?