Disliked@PipEasy
As I can see on yours example chart, you dit not folow all rules, am I right?
1. If the price is coming down from last .00, then enter 2 sell positions, 1 position at take profit 100 pips and other position has no take profit. Both positions to have stop loss -100 pips. If price reverses from your entry you lose -200pips but then enter another x2 lots of buy positions since price is coming up from .00
2. You let it run. After 100 pips, 1 position will close by taking +100 pips, and the other remaining position...Ignored
Good morning, xman
I looked at my charts and there is one or two that I have circled that shouldnt be there. You are correct about the small error however the rules above is firm.
If price moves from 135.000 to 134.000, then we enter 2 sell positions
If price moves from 134.000 to 135.000, then we enter 2 buy positions
If, price moved from 135.000 to 134.500 and then straight up to 136.000, then we enter 2 buy positions at 136.000. But then, if price goes to 136.500 but then down to 135.000, then we would enter 2 sell positions at 135.000.
As you can see you will face large drawdowns if price ranges between the range of 200 pips. It happens often but there will be much more wins.
The most important thing to do is let these surviving positions grow and then diversify for a profit.
This entry system is just getting you started at creating stacks of positions but it is a sensible entry system.
Sincerely,
Graeme