So I've been trading almost a year now on the simulator and I'm still struggling a lot. Basically I'm in the red every single month. My median accuracy is 50%.
The most important problem I have is that my losers are way bigger than my winners. When the trade goes my way I'll usually take some profit after 10 cents, then scale out the rest. When the trade goes against me, I will exit my position once the price reaches my stop loss, which most of the times is 20 cents (sometimes 30 cents) away. This way a single loss can wipe out the profit of 2 or 3 winners.
How can I change this situation? I know I should aim for 2:1 profit/loss ratio, but that would mean I let the trade run for 40 to 60 cents, and I seldom come across such a move.
What do you think I'm doing wrong? How do you guys manage your trades? How far away is your stop loss (usually) ? (also what is your accuracy?)
Thanks,
G