Hi gents, Vee.
Vee, you're definetely not alone in doing this ))
If I can comment, Graeme always advised not to try too much in one single day, so 2-3 is a max number of entries until this day is shut down for any new probing or adding to existing positions.
I believe this is the GOLDEN rule everyone must stick with. It greatly reduces DD and expenses to create positions.
So basically, approach already is to have on risk only few probes a day.
Having said that, I also agree that as Graeme said, it's better to watch the PA not from raw price, but from smallest probe, which is for micro accounts is 0.01.
So basically when I have no positions at all on this pair, I like just to watch the market with that 0.01 probe, even with no SL or wide enough. This is paid service for me )) in case that 0.01 goes horribly wrong I close it (50-100 pp is just 5-10 $ - what a bargain).
But, when I'm more confident in my assumptions, I use normal size probe, which is indeed is an essential part of the method and adds enourmously to the profits when it works.
As to splitting the "normal" size probe into chunks, I found it to be very time-consuming and not worth doing it in the long run. Basically, I would just make a little re-adjustment of this "normal" lotsize to trade more comfortable size without thinking of how I can save even on that small SL probe. So basically I stopped splitting the probe, I just re-adjusted the lotsize to be more comfortable for me.
But if what you do works well for you - why change that? ))
Hope that was helping for further thinking.
Vee, everybody, please post more from your exp and thoughts for discussion. Cause many of us have mostly the same issues and would love to have other people thoughts on them. I do really love to discuss the things with you, guys, here in the thread.
Regards,
Alexander
Vee, you're definetely not alone in doing this ))
If I can comment, Graeme always advised not to try too much in one single day, so 2-3 is a max number of entries until this day is shut down for any new probing or adding to existing positions.
I believe this is the GOLDEN rule everyone must stick with. It greatly reduces DD and expenses to create positions.
So basically, approach already is to have on risk only few probes a day.
Having said that, I also agree that as Graeme said, it's better to watch the PA not from raw price, but from smallest probe, which is for micro accounts is 0.01.
So basically when I have no positions at all on this pair, I like just to watch the market with that 0.01 probe, even with no SL or wide enough. This is paid service for me )) in case that 0.01 goes horribly wrong I close it (50-100 pp is just 5-10 $ - what a bargain).
But, when I'm more confident in my assumptions, I use normal size probe, which is indeed is an essential part of the method and adds enourmously to the profits when it works.
As to splitting the "normal" size probe into chunks, I found it to be very time-consuming and not worth doing it in the long run. Basically, I would just make a little re-adjustment of this "normal" lotsize to trade more comfortable size without thinking of how I can save even on that small SL probe. So basically I stopped splitting the probe, I just re-adjusted the lotsize to be more comfortable for me.
But if what you do works well for you - why change that? ))
Hope that was helping for further thinking.
Vee, everybody, please post more from your exp and thoughts for discussion. Cause many of us have mostly the same issues and would love to have other people thoughts on them. I do really love to discuss the things with you, guys, here in the thread.
Regards,
Alexander