DislikedYou are indeed a wise person, Ufgators, i really like your money management.
What do you think about this:
Instead of taking half profit at first TP (1.618) and letting the rest run.
Buy example: with half lot size of what you would trade normally with Paulus system.
Entry as before, 10 pips + spread above the asian high.
SL appprox 30 pips below or half of potential profit target (depending on Asian range) which is 1.618.
Then a second Entry order 7 pips above first TP (1.618) with a TP at 2.0 and a SL about 20 pips below or half of potential...Ignored
I used the modification to the system as described above and here's the results for today.
GBP/JPY
+94 pips - Short #1 triggered, went TP #1
-38,5 pips - Short #2 triggered, went SL #2
Total: +55,5 pips
GBP/USD
+44,4 pips - Short #1 triggered, went TP #1
+53,6 pips - Short #2 triggered, went TP #2
Total: +98 pips
Grand total for today: +157,5 pips.
Can't complain, except i wish this was on my live account instead of the demo.
I think a good part of this modification is that you won't have to follow the trade to split it at TP #1, i only set it up in the morning (i'm GMT +1) and let it run.
I was lucky today that they didn't trigger both Short and Long and went red pips, is there a way to automate it so when the Long order is triggered all of the Short orders are cancelled?
With kind regards
Jesper