As I understand, you open a new trade at the start of a new bar. So, on a 1m time frame, you open a new trade every minute.
If the previous bar closes up, you open a new long trade with a TP of 80, and a SL of 20.
If the previous bar closes down, you open a new short trade, again with a TP of 80, and a SL of 20.
You don't close trades when you open new ones. So you might end up having 15 long trades and 20 short trades, all going at once, or more.
The trades close themselves when they hit TP or SL.
My broker has a limit of 100 open trades, which I reach easily, using this system (on on demo of course).
It's an interesting system, following the price. If price is going down, go short, etc..., the problem is that if your trade doesn't hit TP quickly, and price wanders away, the reason for you entering that position is no longer valid, and more often than not hits SL.
I think the system needs more room for the trades to work, such as a wider SL and a closer TP, lock in that profit quickly, without hitting SL.
Ultimately, it didn't work for me, just made big losses.
If the previous bar closes up, you open a new long trade with a TP of 80, and a SL of 20.
If the previous bar closes down, you open a new short trade, again with a TP of 80, and a SL of 20.
You don't close trades when you open new ones. So you might end up having 15 long trades and 20 short trades, all going at once, or more.
The trades close themselves when they hit TP or SL.
My broker has a limit of 100 open trades, which I reach easily, using this system (on on demo of course).
It's an interesting system, following the price. If price is going down, go short, etc..., the problem is that if your trade doesn't hit TP quickly, and price wanders away, the reason for you entering that position is no longer valid, and more often than not hits SL.
I think the system needs more room for the trades to work, such as a wider SL and a closer TP, lock in that profit quickly, without hitting SL.
Ultimately, it didn't work for me, just made big losses.