Hi Dave Scaling is the way to go I agree. I use a very...

Hi Dave

Scaling is the way to go I agree. I use a very aggressive approach where I start scaling in against any losing position on every M5 dip.
This way I can recover all these pips then hopefully make a good profit without stress.

Here's an example on EURJPY Buy from Monday which I started traded this afternoon.

1.. This first trade didn't go to plan so after a few days I was in the Red 130 pips ( Stop Loss 250 Pips)
2.. I let it drop to around 1.5 ADR(100) which is around 130 pips for this pair.
3.. I now start Selling on every M5 Dip using my monentum indicator to enter under strict rules.
4.. Trades 2 - 3 - 4 - now entered which has turned this 130 pip loss into around 20 pip win which I have now closed.

What I am saying is this. If we decide to trade Day chart setups on Forex, you can turn 89% of positions into a break even or good profit position if you are willing to aggressively apply a M5 breakout strategy on a strong London or New York trend.

Footnote- If I had stayed in trade for another hour, I would have made another 70 pips - but it was time to pick my daughter up from an event so I closed position early.