DislikedI have been having a bit of an issue with my brain recently, and have been 'trying' some stuff out on my MMR2R account... a bit silly! On top of that, my trading style is on where i usually calculate my SL, and then that gives me my %risk, and i then usually try to target S/R... At the moment, that has sort of flipped where I try to look for my profit exit and then calculate my SL... which means more losers than winners (just because of my strategy... However, i believe that i have ironed some of these issues out and have set up my charts to give...Ignored
It does take time to adjust to 2:1 trading. The way I set up my trades is to watch for the S/R levels for my SL with a rough range I want my trades to work within. I personally usually aim for a 25-50 pip SL depending on the pair and current volatility. If I am trading GJ, I probably don't want to trade with a 25pip SL because normally the pair is quite volatile and could easily take the stop with 2x 1 minute candles. On the other hand I don't (normally) want to trade EG with a 50 pip SL because I could be waiting a week for it to complete (that said EG is quite volatile for the pair atm). Once I have the range and my S/R that I want the trade to be covered by I use a Lot calculator to figure the R:R for me. http://www.babypips.com/tools/forex-...sitionsize.php Once this is done I let the TP take care of itself and more often than not it actually ends up in a desirable location. I will also monitor the trades ie B.E. TS 50% etc when I think appropriate. Hope this helps.
I'd be carful about trying to do too much. I have been down that road before and trying to follow too many trades at one time can become quite difficult. Also if a trade reaches lvl 2 or lvl 3 as you mentioned, it will reduce your margin on your account considerably. I am still in contemplation process with a second account but I am wary of DD if both Trading accounts experience losses. At the end of the day if 1 account is perfected with continual trading and progress then it should be all that is needed to complete the strategy. Don't let me dissuade you however, if you think your on to something go for it
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