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GautenTrader:: U R on the right track in your thinking.
However, I did see that you seem to set your original stop based upon psychology of 25 or 30 pips. If that is an accurate reflection, you need to rethink. Most traders claim to be trendline traders, as that is the number one rule they have been taught by almost everyone (mostly because they cant teach anything else). In trendline trading, your stop needs to be above the last high if trading south and below the last low if trading north. Very seldom does this allow for 25 pip stops unless you exclusively are trading off of tick to 30 min charts, which only gives you a very small picture of what is really going on.
On a two hour or daily chart, and as a trendline trade, the steeper the trendline the bigger the stop will be. It is often 60 and 90 pips. In order to have a 25 pip stop based upon trendline trading, the trendline would have to be almost flat or horizontal!
Of course, that means you shouldnt be trading anyway because reversal or sideways is at hand.
Nevertheless, your concept of enetring with multiple lots, taking profit soon on some of the lots, and letting the balance try to run with minimal stop loss on those remainders, is a good strategy to perfect.
Eventually, you should be able to get to the level of entering with 5 lots and start taking a lot off the table every 20 pips. Meanwhile, start choking up the stoploss on the remainders as soon as the market has moved 30 pips in your favor. A 20 pip trade in the pocket on the first lot will cover 5 pips worth of stoploss on each of the remaining 4 lots. The second lot will get you 40 pips more profit off the table, which now will cover 20 pips of stoploss on the remaining 3 lots. Since fx spot prices move in waves of 30 pips out, 20 pips back or 60 pips out , 40 pips back you can see by this method that you can adjust your stop to break even and locked in profit as you go without getting too close to poorly getting stopped out with psychological stops when the trade is in the right direction.
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