#1
If you're making money and it's time to increase your lot size from 0.01 up to 0.02.
Rather than just instantly doubling your risk, you can open two 0.01 positions in "related "pairs.
eg. lets say your bullish EURAUD. First thing is to ask yourself - Which individual currency do you feel strongest about? Bull Euro or Bear AUD?
Lets say your answer is Bear AUD.
Rather than opening 0.02 on EURAUD, to slightly diversify the position and mitigate risk - you could open a long on EURAUD and a short on AUDUSD.
If you're making money and it's time to increase your lot size from 0.01 up to 0.02.
Rather than just instantly doubling your risk, you can open two 0.01 positions in "related "pairs.
eg. lets say your bullish EURAUD. First thing is to ask yourself - Which individual currency do you feel strongest about? Bull Euro or Bear AUD?
Lets say your answer is Bear AUD.
Rather than opening 0.02 on EURAUD, to slightly diversify the position and mitigate risk - you could open a long on EURAUD and a short on AUDUSD.
Well sir, looks like you're playing checkers at a chess match.