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Not a grid. Profit is taken with all positions at once - so a massive profit when you close this one.
Try with CAD today, during news.
zoom
Never made 100 pips so quickly on EJ - 1 position. Blink of an eye! On 75bp surprise cut - pure luck this time.
CAD move was decent too -
auto,
You've reinvented the wheel.
You're simply grid trading (yes, you are!) and taking a global profit.
This is nothing new, and yes, it is profitable.
Some of us have been doing this for awhile.
Money Management
If you are taking say 3 to 5 trades per day on forex.
Would you not be better using that days house money to reduce risk.
trade 1) 1 lot (your own money)
After your first trade take your money back
trade 2) 1 lot (house money)
trade 3) 2 lots (house money)
trade 4) 3 lots (house money)
trade 5) 4 lots (house money)
at end of trading day all house money becomes your money
then start next day at 1 lot again (your own money)
Xard777
just a thought
So what's the strategy?
Never made 100 pips so quickly on EJ - 1 position. Blink of an eye! On 75bp surprise cut - pure luck this time. CAD move was decent too -
Auto;
Please any guidance as to lot size/accountbalance based on your experience?Thanks a lot.
If you are taking say 3 to 5 trades per day on forex.
Would you not be better using that days house money to reduce risk.
trade 1) 1 lot (your own money)
After your first trade take your money back
trade 2) 1 lot (house money)
trade 3) 2 lots (house money)
trade 4) 3 lots (house money)
trade 5) 4 lots (house money)
at end of trading day all house money becomes your money
then start next day at 1 lot again (your own money)
Xard777
just a thoughtplease explain in detail , it went over my head
you enter @ market or limit.
if you enter a buy @ market say 1 lot therefore the sell will be 2 lots or 1 lot.
If you are taking say 3 to 5 trades per day on forex.
Would you not be better using that days house money to reduce risk.
trade 1) 1 lot (your own money)
After your first trade take your money back
trade 2) 1 lot (house money)
trade 3) 2 lots (house money)
trade 4) 3 lots (house money)
trade 5) 4 lots (house money)
at end of trading day all house money becomes your money
then start next day at 1 lot again (your own money)
Xard777
just a thoughtAnother very simple MM for this can be to move the stop to BE on the previous position every time you enter a new.
This way the risk is never more than one position no mater how many times you enter.
(i am not sure if i understand 100% what you are explaining but maybe it is just another way of saying the same thing..?)
Arctic4x