Disliked{quote} Ty, For a current signal on 4HR chart- how many levels of orders do you execute? I mean, you talked about conserving your ammunition- As per the broker- i am testing- the C5-H4 gave a sell signal on 20th September-One enters a basket of sell orders-Level 1- Market can present multiple re-entry opportunities-so another set of sell orders-Level 2- so, like that- what is the maximum number of level you would entertain? I apologize if this already been answered- as i have still some reading to do... ThanksIgnored
There is no "cast-in-stone", maximum number of re-entry levels. I generally re-enter as often as I have re-entry opportunities (higher/lower) than my initial (i.e. the first) open position. I also do so based on my account size and available resources.
One thing I do (and this can be viewed from most of the images I have attached, is I ONLY consider entering new levels after a visible DC (discount-Continuation) on m15/H1. What this does is help me avoid too many positions in one pair AND also offers the "best" possible discount price just in case of a signal change on the H4.
*NOTE: I will only re-enter as long as the H4 basket is still showing a valid signal in said direction.
I hope I answered your question.
Regards and Stay fluid,
Ty
My job: I speculate and manage risk.
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