I traded the method this week. Here are a few thoughts.
Execution is key.
Sometimes price jumps 0.8 pips in 1 tick, sometimes more. Even if you are quick on the trigger or you put buy/sell stop orders, your broker will get you in at the price it can/wants which is sometimes 1 pip above/below your desired entry.
Spread is key.
anything above 1 pip spread is untradable as once you enter a trade, if spread is 1 pip, you only have 1 pip room left till your position SL gets hit.
1 VERY good thing about this method is that one can no longer blow an account on only 1 losing trade as SL is really set in stone!!
Execution is key.
Sometimes price jumps 0.8 pips in 1 tick, sometimes more. Even if you are quick on the trigger or you put buy/sell stop orders, your broker will get you in at the price it can/wants which is sometimes 1 pip above/below your desired entry.
Spread is key.
anything above 1 pip spread is untradable as once you enter a trade, if spread is 1 pip, you only have 1 pip room left till your position SL gets hit.
1 VERY good thing about this method is that one can no longer blow an account on only 1 losing trade as SL is really set in stone!!