Hi,

Wondering if anyone can explain the reasoning behind the limited TP?

Thanks.

If you are referring to the 2% limitation, then the reasoning is as follows: we do not want traders to open several huge ad-hoc positions in the beginning of the contest month and keep them until the end with the expectation that, luckily, they will turn into profitable ones. We want trades and profits to be analytically grounded, not incidental.

OK. no problem, makes sense.

However,

This week was a little unusual in terms of market behaviour. With the Yen volatility particularly on Friday's Tokyo opening, I was able to make 92 pips on the USDJPY. The problem was that this had to be over 2 separate trades, as I couldn't let the original trade run past the limited TP. In effect this meant that the market had moved another 30-40 pips in my favour before I was able to enter the 2nd position. This was a well thought out trade, and by no means lucky, and was completed within 4 minutes!

Perhaps a time limit should apply to each trade rather than a SL/TP % limit. eg. all trades must be closed within 1 week of opening, or all trades are automatically closed on friday's market close.
Just a couple of ideas.

Thanks,

fifty_fifty

We do consider this option for implementation in future as well.

Something doesn't seem to be right with the 2% TP validation, as with some pairs it's clearly not 2%. For example I noticed that on AUDUSD the limit was about 140 pips or so, which is ~1.5%, and on USDJPY the limit is ~80 pips, which is about 1%.

I'd also like to suggest that sorting by pips (Biggest profit in the Traders Blog) takes into account the weighting that DS puts on Pips Expert metric because some pairs show much bigger pip ranges whereas the %change is approximately the same (for example NOK pairs show *much* bigger pip ranges so it's much easier to score 500-1000 pips than on USDJPY for example). I know that this has no influence on the final result but it would be nice if it was consistent.