Hey all,
in this journal I'm going to live test a grid approach. That means there will be several orders in the direction of the anticipated move with lots of take profits but no hard stops.
So when I think the price will go up, I will only place buy stop order above the current price and "reload" above when it goes down.
Naturally this works very well if you're in either a ranging or trending market AND your anticipation is correct - otherwise you (I) will lose. To have some room the leverage is pretty low, so don't expect stellar results.
My current bias is Dollar and Euro short, and to some extend Pound long which means I have positions:
Silver long
EUR/JPY short
GBP/CHF long
in this journal I'm going to live test a grid approach. That means there will be several orders in the direction of the anticipated move with lots of take profits but no hard stops.
So when I think the price will go up, I will only place buy stop order above the current price and "reload" above when it goes down.
Naturally this works very well if you're in either a ranging or trending market AND your anticipation is correct - otherwise you (I) will lose. To have some room the leverage is pretty low, so don't expect stellar results.
My current bias is Dollar and Euro short, and to some extend Pound long which means I have positions:
Silver long
EUR/JPY short
GBP/CHF long