QuoteDislikedSo ... you have 4-500 pips gained, but your loss is now 800.
It is the initial distance + the additional distance(s) of additional locks.
And I sometimes decrease the distance.
Somehow you want to believe that I make 50 wrong unlocks in a row,
but my experience is that I make 1 or 2 and then the market
turns enough in the direction I need and I make breakeven or profits.
In a big move of 800 or more Pips, there are plenty of good pullbacks
and bounces from strong S/R levels where I can unlock and decrease
the needed distance to be.
I usually need 20 - 50 Pips to get to BE.
And if you donīt mind looking at H4-charts, you will easily find
pullbacks of 100 - 200 Pips or more during such a good moves.
But even if I hold the losing position for the whole 800 Pips,
finally the trend will change and then move 500 Pips or more
into the direction while I only need 50 or 60 Pips to break even
on my initial position.
Would you grab 60 Pips from a 500 Pips move when your pending order
is at a level where price doesnīt go for the next 5 months
I grab 60 Pips from a 100 Pips move without stress.
Especially when 60 Pips translate to 1 - 2 % risk.
I did it with 20 % risk without stress.
I am not bragging here but I simply have the facts on my side and the experience. The facts can be seen in historical charts and my experience
I see in when I am looking into the mirror after waking up .