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without a doubt the trade is still a bit iffy....but seems to be...

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specgoldbug

12,874 Posts.

370

25/04/18

20:19

Post #: 32679373
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Originally posted by RickM ↑

Hi Spec - Good Luck.

Here is another approach you could think about which is similar but not exactly the same as my MEME automated system.

The average daily range is 100 pips so I would use 50% as a trading range.

Trade one is 132.96 at perhaps 30K
Trade Two is 133.46 at perhaps 45K

Stop loss would be 1x Daily range or 100 pips, anything smaller is a loss of your equity.
Average profit 10 minutes ago would have been 15 pips.

If Price drops below your first trade then you could add a third trade.
This would be a smarter approach, single entry / single Exit = Broker Win for most traders without a tested strategy.

Multiple Entry / Single Exit or Multiple Entry / Multiple Exit increases the chance of a winning result.

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without a doubt the trade is still a bit iffy....but seems to be respecting weekly trendline and with 3 days to go in week i can envisage more pullback.....next month candle different story....I got a standard lot on it stop 133.37 stop....I got 20 pips leeway...bugger all but better positioned than last time if it happens
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