Hi all,
in this thread I will something I rarely did in the past: Go with the trend.
I will use the daily chart and trade breakouts which might develop to a trend. I will use simple higher highs / higher lows definition for an up trend and vice versa for a down trend.
So I will look for those 1-2-3 patterns and place stop buy order above the price to go with the trend if it goes up. Stop will be the last low/high. I will start with $1k:
http://www.xaron.net/dl/fx/2010/renk...unt_021110.png
The first entry will have a size of 0.5:1 (so 500 units) and I will add every 50 pips to this position without a TP. Second entry will be half size of the first one, 3rd entry and following will be quarter size of the first one, so:
500 units, 250 units and then 125 units every 50 pips.
Let's see how this develops.
Link to MyFXBook: http://www.myfxbook.com/members/Xaron/trend/60752
in this thread I will something I rarely did in the past: Go with the trend.
I will use the daily chart and trade breakouts which might develop to a trend. I will use simple higher highs / higher lows definition for an up trend and vice versa for a down trend.
So I will look for those 1-2-3 patterns and place stop buy order above the price to go with the trend if it goes up. Stop will be the last low/high. I will start with $1k:
http://www.xaron.net/dl/fx/2010/renk...unt_021110.png
The first entry will have a size of 0.5:1 (so 500 units) and I will add every 50 pips to this position without a TP. Second entry will be half size of the first one, 3rd entry and following will be quarter size of the first one, so:
500 units, 250 units and then 125 units every 50 pips.
Let's see how this develops.
Link to MyFXBook: http://www.myfxbook.com/members/Xaron/trend/60752