Saint,
This is about our first day trades yesterday, 22 Sep.2008 :
We got our first 5 minutes bar with a traded high of 4300 and low of 4361.
We went short below 4361-9=4352, with 4309 as SL. Thus our SL was 58 points.
The SL came down to 4291 i.e 40 points from entry and went up again to 4294 (43 points) and when the bar at 2 PM was fully formed, our SL was just 4256 (just 5 points from our entry level)
At 14:00:01 hours are short from 4252, we are at 4217, 35 points in plus!!! our SAR is just 5 points in Loss from our entry,
Do we book partial profits!!!
On deeper thought I feel I am just trying to safeguard yesterday's trades, shall post again after personally going through the historical data!!! Till then would it be correct to say that we book partial profits in 1/3 position on the trade moving in our direction by the amount of our
initial SL!!! and not the trailing SL!!!
Saint, suggesting a change in rules:
We change the partial profit booking level to say the amount of SL as per the SL of the bar that initiates the trade!!! or original SL which ever is less!!!
In yesterday's case the trade was triggered by 11 AM bar, and the SL was 4296 (lesser than 4309 of initial bar), a SL of 4252-4296=44 points, so we book partial profit at 4252-44=4208!!!! (We did a low of 4216 
)
Trust I am able to convey what I wished to!!!!
No intention to create confusion!!! Since we are still in the nascent stage have posted this suggestion!!!
Regards,
R K Karnani
