DislikedSure, it's simple. The rules are the ones on page #1.
Changes:
Stop: 40 pips
TP: 10 pips
Entry #1 with 1 lot (mini, micro or whatever) between EMA 10 and 21 (as usual)
Entry #2 with 1 lot 20 pips below only if the tp wasn't reached with the first position!
Example:
Entry GBP/USD at 2.0000, SL: 1.9960, TP: 2.0010
If the price reaches 1.9980 buy another lot at 1.9980, SL: 1.9960.
You have now an average price of 1.9990. Set the tp for both positions at 2.0000, SL is at 1.9960.
There are cases, where the SL is hit. I know that the risk/reward ratio doesn't look good, but we play with probabilities. You have to choose good setups...
Of course you can use higher TPs or some kind of trailing stops. It's you choice.
Regards - XaronIgnored
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TRADE WHAT YOU SEE... FOCUS ON SUCCESS
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Willem
Forex recipe for success = Patience, discipline & hard work.
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Willem
Forex recipe for success = Patience, discipline & hard work.