Hello everyone, I've been reading this forum, and got an idea.
For example you have a h4 or day trader that comes to conclusion that trend goes up on eurusd, he buys it, it goes up about 20-40 pips, then goes down, the dude either waits(if he has enough account money) or "hopes for the best".
I just think of solution how to avoid waiting for negatives to become positives:
maybe i even program it myself, it's just an idea afterall, but it can significanly save you from drowdown
THV Cavemanager or similar trailing stop with profit protection can do the first part, but they won't restore your deal afterwards if the price goes to you favor.
In case our dude opened right deal, he get's the initial 10-15 pips+negative pips+his profit, in case he looses he still get's something.
There might be a problem with this scenario in case of commission from the broker and various bad scenarios, for example price is ranging around our price enter.
Tell me if that idea is stupid or worth something.
p.s. This could also show some potential with renko system, from Mr.Nims
Interesting idea E3dalive, Thanks for sharing it!!
"as alternative while the price is below, we open another deal with take profit of our original value." Most of the traders follow it but their main problem is commission from the broker. Thanks to share such good idea with us.