Need to ask you a couple of questions please.
As you have already said, when you are in a position and have made more than 5 entries you then know you are fighting against a trend. The entry rules change and Lots are entered at much larger intervals (1.0% or 2%) because survival then becomes of paramount importance. To enter at these larger intervals we must also wait for an interday move of 1.0% or 2% before re-entering. A 1.0% move is around 160 pips but sometimes there will be many days of quite large interday moves against the open position but not large enough to make another entry. By the time the next entry is made sometimes the gap from the last open Lot can be over 400 pips.
The 1 or 2 % rule applies compared to your last entry and not end of day.
Do you have any type of rule that says if you are waiting for an interday move of say 1.0% to re-enter but after many days this move has still not happened but the price has moved say another 2% away from your last entry or exit you will then enter another lot to prevent the price from gapping too far away? Does it make sense to do this or is it better to always wait for an interday move of the required amount regardless of how far the price moves from last entry/ exit?
cf rule above
Also regarding the rule: After 10 days close all Short positions, at loss or profit. If caught going short the wrong way in a trendy move is there any merit in perhaps taking some long signals so the profits from these long entries could be utlised to help close the position earlier at profit? Or another solution, cut one leg of the hedge to recover position faster?
everything is possible idea is that we can afford 1 or 2 losses in a full year ( generally i have very few trade ( a trade is composed of many trades since first one is closed) with a loss ( zero on the last 6 months).
As you have already said, when you are in a position and have made more than 5 entries you then know you are fighting against a trend. The entry rules change and Lots are entered at much larger intervals (1.0% or 2%) because survival then becomes of paramount importance. To enter at these larger intervals we must also wait for an interday move of 1.0% or 2% before re-entering. A 1.0% move is around 160 pips but sometimes there will be many days of quite large interday moves against the open position but not large enough to make another entry. By the time the next entry is made sometimes the gap from the last open Lot can be over 400 pips.
The 1 or 2 % rule applies compared to your last entry and not end of day.
Do you have any type of rule that says if you are waiting for an interday move of say 1.0% to re-enter but after many days this move has still not happened but the price has moved say another 2% away from your last entry or exit you will then enter another lot to prevent the price from gapping too far away? Does it make sense to do this or is it better to always wait for an interday move of the required amount regardless of how far the price moves from last entry/ exit?
cf rule above
Also regarding the rule: After 10 days close all Short positions, at loss or profit. If caught going short the wrong way in a trendy move is there any merit in perhaps taking some long signals so the profits from these long entries could be utlised to help close the position earlier at profit? Or another solution, cut one leg of the hedge to recover position faster?
everything is possible idea is that we can afford 1 or 2 losses in a full year ( generally i have very few trade ( a trade is composed of many trades since first one is closed) with a loss ( zero on the last 6 months).
