Disliked{quote} Its up to the individual trader to be as aggressive as they like in adding additional entries to a given setup on a given symbol. Just remember though that you can add in as many as you like and trail all these additional trades within an assigned risk%. However, unless some trades are taken as profit or locked in at BE or better then a big swing in PA against you can reduce your unrealized gain or stop you out based on the SL risk applied. As always the adding in of trades looks very simple if price continues to go the way you like but...Ignored
Since we don't know at what time it will happen and since I would like to take the trend with as many as possible positions, I would like to add the most possible positions at the beginning of the trend ( easy to say, hard to do ). For the first position I open, I consider a stop that give to the trade the right breath ( 150/200 pips ). Then, to add positions, without add the risk, I can accept to lower the stop of the first position. If I am able to add 4/5 positions in the next 7/10 days after the entry, then, I will stop adding, because I am aware that the probabilities of a pull back are increased. Indeed, if it will not happen, I will continue to lower the stops of the existing positions, so that I can however exit all the positions pretty close to the minimum, giving back just a small part of the ground gained. Then, when, the pull back happen, according to the trading strategy, I can enter again, if I have a signal that the trend can resume or I can look for another pair.
Following the update of NZD-USD
I added a position with a stop at 52 pips ( above the max of yesterday )
The first trade is now blocked at +56 pips
The second trade is at BE
It means that if the trend will continue, I am running it with 3 positions. Indeed if the price will rotate going above the max of yesterday, I wil loose 52 pips with the 3rd position and will gain 56 pips with the 1st position. Second trade would be at BE
This night, important news for NZD will be released, so, to minimize the risk, if the price will go down a bit more, I will move to BE the 3 position as well
This is the situation I am looking for...after a good entry, low risk ( or even 0 risk ) but possibility to get a large profit