The basic concept is we are attempting to build small baskets of trades when the price pulls back against the weekly trend with lot sizes that rise around 1.3 - 1.5 larger at each step. This gives us a great AVERAGE PRICE from which we can profit when the price rises again. In brief, the basic model uses these details.
We open trades at a distance of 1/2 the days Average Daily range for that pair when it falls against first trade. It can't be opened within a 4 hour period of last trade and has a Stop Loss of 2.5xADR100 and take profit o.5ADR100. The risk is set on a full basket of 5 trades so the first trade starts small.
Most traders can't get their head around why we close position so early. You have to trade the concept to see why.
Bottom line is we try to waste no pips, if price pulls back we can profit more.
Also this is important for any MEME system. We need to trade only when a pair is trending on the Weekly Chart.
We need to trade only one pair per group like taking NU out of AU / EU / GU / NU / UC.
Lastly we need around 4 - 5 pairs to be traded at the same time to offset one basket that will probably fail big time.
The Drawback can kill any MEME system so most traders develop a EA and choose when to open or close the EA manually.
This is the starting point, where you take it is your choice.
