The question is always position size on scalps like this. What if I maxed my margin out for a few pips? I have sub accounts where I do this but it still isn't with a large position, just to practice money management. I heard of a trader who had a hot key to instantly get in the market with 90% of funds risked.
The plan is to move the stop to breakeven and add another position at the yellow line, depending on how it reacts. Once it gets through this support price should have a clearer direction.
I figure the more trades I take the more diversified my risk is. I spread it across different countries. A lot of time a big market move involves a particular currency, and I load up more heavily on it. It's not over trading, it's risk management. I just have to get continually better at it. Smaller losses bigger gains.
Virtuous and vicious cycles. Like a shaman's drum, beating time space into a loop, gathering more energy with each beat, gathering power for a vision or a miracle, pyramiding up, adding to winning positions at retraces. The money increases exponentially. It can be lost adding to loosing positions, like the dark side of the drum, it's effect on enemies. Trends are where the big money is. That is why I check the weekly for them.
Stopped out with a tiny loss due to how close it was. I like that about this pair, hardly any spread so stops can be tight. Waiting for the test of the support.
