Not Martingale! But what is it???

[Jans Garkavi]

Hi Traders,

Cut story short: my history showing that majority of trades which went down 20 pip or more are still hitting TP afterwards! 

Great! So I would like to open second position (when 20 pip in loss) with same SL, same LOT size, same TP or may be @ Entry Point of original trade.

Is there a name for this strategy or maybe even EA's to perform this??

Thanks in  advance,

Yan

[Icham Aidibe]

Jans Garkavi:

Hi Traders,

Cut story short: my history showing that majority of trades which went down 20 pip or more are still hitting TP afterwards! 

Great! So I would like to open second position (when 20 pip in loss) with same SL, same LOT size, same TP or may be @ Entry Point of original trade.

Is there a name for this strategy or maybe even EA's to perform this??

Thanks in  advance,

Yan

It is a martingale with a second order @ the pullback.

Read about the Eliott Wave theory.

[Nor Azman Bin Ramli]

It's called grid trading system or averaging. You add your position after the price drop from your initial position and vice versa.

They are so many EAs in the market. Just filter EA for grid type strategy.

But you need enough margin to support drawdown.