Hi all, I just wonder how u are managing trades when u open 5-10 trades at ones in one pair? Why not just open a single trade? How u measure the max daily/weekly loss? For me I feel relaxing when trading with only one trade per pair at a time (expect if I think the price is really high, then i can open 2 trades may be) and max 6 loss trades per day, after that I quit, with 0.4% risk each
This is what Davit call net fishing, he give some explanations on these posts: #13,208, #33,279 and #34,405.
"This system takes advantage of market volatility and uses same tools MM use to take your stops in your advantage.
I use fish net method versus sniper.Multiple entries vs single.
When price is at example R61 UJ example I place 5 orders when PA moves in my way. I will add more should price continues going south, but suppose after 4hrs price goes against you. That's fine remember we still have not added all our intended orders and price is still in the zone.
Price spikes at 100R basically taking stops and creating liquidity for large MM orders and you added additional 5orders.
This is not adding to losers this is BUILDING A POSITION! when entire order is 1 batch of trades!
Think of the CAT we got it covered from tail to head.
Now suppose price smashed 100R and started to go north even more. I usually wait to see if its a fake out or not because vast majority of times its a shake up spikes.
Lets say it was not then I close 25% of my red trades and wait to see how PA reacts.
If everything goes against me I may close all positions as loss. NO big deal continue hammering trades because I firmly believe in sample size.
My account does not die with 1 batch or 10batch of red trades!!!!!
This is not martingale nor brainless way to trade in fact its pretty sophisticated taking advantage of spikes and volatility when others die you thrive!"
For the 2nd question, how measure the max daily/weekly loss, this is personal to each trader, because each one have a different risk tolerance.
Davit put a example on post #8,231, that a trader may want follow.
Green pips!
"In the end you only trade yourself."
