Secondly, I noticed that the few fake breakouts that occur still could bring in some profit if I had a Takeprofit to capture it. But how is one to know what level to set the Takeprofit? To solve this I decided to make two entry position equal to the allotment I'd use normally (ex. 0.5 + 0.5 = 1), that way I can take out half (doesn't have to be half; could 60%, or 75% or whatever), and use the other half (the rest) to carry on.
So, the first position will have a Takeprofit equal to the next closest fractal point (I use Barry's Support & Resistance indicator to help display this; also, if the next closest fractal point won't cover the spread, then go to the next higher/lower fractal), and then the second position will trail the low/high of the second closed bar (i.e. current bar - first closed bar, and second closed bar (the low/high of this one)). The Trailing Bar Low/High is another Robert Miner idea, only I go one bar further back then he would.
This should allow me to make a little bit of profit with a 'highly probable' takeprofit, and still be able to trail the price and gather a little more profit if the price happen to shoot up/down. And if none of this works, then I've lost nothing I would already lose if I didn't apply this setup.
