Hello guys I started trading this method a few weeks ago and so far it looks good. But until now I've trades Single entry and I want to Check out the Position building strategy. Most of the times I searched for setups on the D1 chart, then enter with the h4. As far as I understood it correctly, I can not do this with my small account. When I start trading live in the far away future, I will have about 1000-2000 Dollar on my account. The smallest lot size my broker offers is 0,10 Dollar per pip. If I trade the daily setups, my SL often is like 300 pips away,which would be 30 Dollar and already more than 1% of my Account and if I Start 5 trades because of the Position building it is way to much.
Please correct me if I'm wrong.
My idea was to switch to h4 to look for setups, but even there the SL is to high. I don't know if I understand the money Management correctly.
Due to my job, I can not use timeframes lower than h4 for searching setups.
I would really appreciate if someone can help me.
Thanks.
Mbt
Please correct me if I'm wrong.
My idea was to switch to h4 to look for setups, but even there the SL is to high. I don't know if I understand the money Management correctly.
Due to my job, I can not use timeframes lower than h4 for searching setups.
I would really appreciate if someone can help me.
Thanks.
Mbt