DSM, It works both ways ! We have the chance of BNF moving further 500 or more points but there are chances it may retrace partially or fully the initial move of 500 points ! In case of trading with multiple lots, partial exit can be done. And frankly DSM, not many here can hold position in BNF for further 500 points after the initial run of 500 points, including me !
Intraday, maybe, I can trail my SL , but in Positional , the fear of Gap up or down always lingers in the mind.
Dont look at it as if you are trading a single lot. Maybe we start with a single lot, but with accumulated profits, we need to increase our exposure and then I would prefer looking at booking profits.
I tried to find out the 'range' of BNF on daily charts, and it ranges from 150 to 750 points. The 20 days average of BNF intraday range comes to between 230 and 370 points. Maybe we can decide on this yard stick. Once we enter the trade and it moves by say 100 or 200 points, should we manage it intraday with a Trailing SL, locking our profits?
I like the idea of keeping the record of the First days move by BNF on Entry and by the end of the 'testing' period, maybe we get some insight about exits on day one or on a day of BIG move.
ADD : In trading with Supertrend, where do we add? It surely cannot be arbitary. Then we are to look at some other strategy for 'add' , and that complicates the simple and straight forward Supertend system !
Frankly, never tasted the fruit of "ADD" but having gone through Saints flow system, ADD looks really very juicy and tasty ! Surely would like to 'test' the ADDS while we go along 'testing' Supertrend !
I might have written things a bit haphazard, but went on writing as they came to mind.