Hi!
I used a system similar to this one once, and the outcome was not that good. Maybie it was me, I don't know, but I was not satisfeid with it.
The thing is, you must have an account that is deep (That is ok, here or at least trade a small part of it) but then you should not stop trading after a 10 pip profit. For example, if you have a trend "north" in any given day, it can run up 50 or more pips. You are loosing the chance to win more (five times or at least two or three), and acumulate some profits to cover your future losses (if they happen, of course).
On the other hand, if the market goes against you, waiting for the SL to be hit, is not a nice ideia to me. Either you close the trade ( 50, 60, 70 pips) or enter another one in the direction of the trend. Or do both.....You'll win at least 10 pips, while you are loosing from your first (now loosing) trade.
Just my thoughts on this tempting strategy.
Best regards,
Hatzerim
I used a system similar to this one once, and the outcome was not that good. Maybie it was me, I don't know, but I was not satisfeid with it.
The thing is, you must have an account that is deep (That is ok, here or at least trade a small part of it) but then you should not stop trading after a 10 pip profit. For example, if you have a trend "north" in any given day, it can run up 50 or more pips. You are loosing the chance to win more (five times or at least two or three), and acumulate some profits to cover your future losses (if they happen, of course).
On the other hand, if the market goes against you, waiting for the SL to be hit, is not a nice ideia to me. Either you close the trade ( 50, 60, 70 pips) or enter another one in the direction of the trend. Or do both.....You'll win at least 10 pips, while you are loosing from your first (now loosing) trade.
Just my thoughts on this tempting strategy.
Best regards,
Hatzerim
Best Regards!