DislikedDon't really get it
Your first short is stopped out for a loss of 250$, .5%
The you go short again (according to your tradeplan), but not scaling in because your first was stopped out?
Then you enter again but only have 2 positions open.
I can see why you use this approach because it prevents you from picking tops. Is sort of the same as mine but I scale in only on winners and with less and less size. As soon as I scale in i move stop loss to keep loss at be or EDIT (initial) maximum risk.Ignored
If it goes UP and away I am out of everything and wait until it goes much higher before a new Trade Plan.
I have seen the movement many times as shorts cover as it goes over 1.3200 and as that ends it resumes back down below 1.3200 and I have winning Trades except for the first loss. If I am more confident I will have on more than 3 positions. It could be 5 positions.
I answered you in order to explain the 5% loss per Trade Plan.
I have a MAXIUMUM STOP LOSS of 100 PIPS however when I was less experienced I used 50 PIPS and still do at times. I scale in after a rise of 25 PIPS and if I see it intends to go much higher based on Money Flow I get out.
I hope that explains it for you. I trade very much like PipTrapper.