Give me about 30 minutes to draw up some chart examples.
This system is to try to get the most of the leverage brokers offer you, without risking too much as traditional use of high leverage would do.
It is somewhat similar to pyramiding entries.
I'm sharing this because its just an idea on how you would maximize your profits, you still have to figure out where to enter and when to enter.
It will be easiest to understand this idea with charts which will be posted below.
Basically what you must do is trade the larger and smaller time frames on the largest time frame move. How you do this with where you place your stops is completely up to you. Lets just do examples for now for simplicity and understanding.
We will call this the following the master entry. You might for example risk 25 pips at 1:1 leverage. 0.25% of your account. When the positions moves in your favor by X amount of pips, you have a nice profit. But it hasn't reached the desired target yet. If there is some temporary resistance coming, you can close partials and re enter (if you are skilled enough to do so), but for simplicity lets just say you don't close any partials and small resistance areas.
However what you will do is trade larger time frame continuation. A tip for entering? It will be the end of the smaller time frame retracement.
When this happens you reenter the closed partials from the master entry (if you had done any). You then proceed to enter positions half the size of the master short. However, you keep a razor tight stop loss on this trade. It's just for bonus. You are only risking a small portion of your master shorts profit. This is probably a good time to break out a chart for a visual. See below.
Again, the risk % and stops are all up to you. The amount of bonus trades you decide to "pyramid" is up to you.
Just keep the bonus trades with ultra tight stops. That's the most important part.
Note: If you get these razor tight entries and they work out, you can close them for +50 pips or whatever you feel like if that would help you feel more comfortable letting the master short go all the way to the master target.
Tip: Enter bonus trades on accumulation moves, where its completely evident the market is moving in the position of your master trade.
Let me know if you have any questions. I thought that was pretty straight forward though.
Green pips to you all.
R2R
This system is to try to get the most of the leverage brokers offer you, without risking too much as traditional use of high leverage would do.
It is somewhat similar to pyramiding entries.
I'm sharing this because its just an idea on how you would maximize your profits, you still have to figure out where to enter and when to enter.
It will be easiest to understand this idea with charts which will be posted below.
Basically what you must do is trade the larger and smaller time frames on the largest time frame move. How you do this with where you place your stops is completely up to you. Lets just do examples for now for simplicity and understanding.
We will call this the following the master entry. You might for example risk 25 pips at 1:1 leverage. 0.25% of your account. When the positions moves in your favor by X amount of pips, you have a nice profit. But it hasn't reached the desired target yet. If there is some temporary resistance coming, you can close partials and re enter (if you are skilled enough to do so), but for simplicity lets just say you don't close any partials and small resistance areas.
However what you will do is trade larger time frame continuation. A tip for entering? It will be the end of the smaller time frame retracement.
When this happens you reenter the closed partials from the master entry (if you had done any). You then proceed to enter positions half the size of the master short. However, you keep a razor tight stop loss on this trade. It's just for bonus. You are only risking a small portion of your master shorts profit. This is probably a good time to break out a chart for a visual. See below.
Again, the risk % and stops are all up to you. The amount of bonus trades you decide to "pyramid" is up to you.
Just keep the bonus trades with ultra tight stops. That's the most important part.
Note: If you get these razor tight entries and they work out, you can close them for +50 pips or whatever you feel like if that would help you feel more comfortable letting the master short go all the way to the master target.
Tip: Enter bonus trades on accumulation moves, where its completely evident the market is moving in the position of your master trade.
Let me know if you have any questions. I thought that was pretty straight forward though.
Green pips to you all.
R2R
Be hopeful in a winning position, and fearful in a losing position.
