Has anyone tried Average up. I know its nothing to do with the martingale approach. but it works very well in stocks, and looks very good in FX 2. It has been introduced by the famous jesse livermoore and now is practised by william o'neil in stock trading.
first entry = 50% of the intended lotsize
second entry = 30 % of the intended lot size (after 2.5% increase in stocks)
last entry = 20 % of teh intended lot size (after 5% increase in the stock)
all depending on what TF and pair, its an approach i like because if u are wrong on first entry then u only loose half. if price goes up 20-50 pips then second entry is triggered etc. etc.
Has anyone experience with this approach???
Lehmann
first entry = 50% of the intended lotsize
second entry = 30 % of the intended lot size (after 2.5% increase in stocks)
last entry = 20 % of teh intended lot size (after 5% increase in the stock)
all depending on what TF and pair, its an approach i like because if u are wrong on first entry then u only loose half. if price goes up 20-50 pips then second entry is triggered etc. etc.
Has anyone experience with this approach???
Lehmann