Quoting MicardoDisliked
kjellik74... I like what your system does in theory the only thing is I can't formulate it in my head in practise. Could you please put it in stupid form for me. i.e
Buy =
Sell =
Buy =
Sell =
Buy =
Sell =
Buy =
Profit target reached so X Lots short and X lots Long which = X Profit
Also what happens if you come to the end of the day and neither profit target has been hit.... or do you just keep going?
Again how long have you been doing this and what is the most amount of open lots youve had open so far?Ignored
First sorry for the confusion, I should have continued a bit more then to only three trades, as it is misleading. Also my text further say increase by 1 lot, which also is not correct. The idea is that for the next trade I put on, it is sized by putting the two last ones together. I.e., I start with i.e. 1 m lot, then next 2 m lots, then next m 3 lots (1+2 =3), then next 5 m lots (2+3 =5), then next 8 m lots (3+5 =8), then next 13 m lots (5+8 = 13), and so on.
Buy = 1 at 20
Sell = 2 at 0
Buy = 3 at 20
Sell = 5 at 0
Buy = 8 at 20
Sell = 13 at 0
Buy = 21 at 20
Profit target reached so 20X Lots short x 60 pips = -1200 and 33X lots Long x 40 pips = +1320 which = +120 pips.
I have never been more then to the 4th trade, this is because I only trade when I see a break out due to happen, as well as trading only the GBP/USD which like to trend. Interesting to see though that the profit increase by the number of trades, not sure how much the spread will affect it though. Of course if I get stuck in a range it can be bad, still have not experienced it, have traded this strategy for the last 1 1/2 month. I have a equity of USD 100k on my account, so I have of course not be close to a margin call as of yet. Maybe something to test out on a demo account, it would be interesting to see how far this could carry based on say starting the first trade with 1 micro lot on a 10k account and 1 mini lot on a 100k account.
Kjellik74