Multiple Entries and Fixed Stops Based on First Entry

I will always risk 1% per trade, if I get opportunity, I will add another 2% if this moves against me and add this only when it moves against me and not add if I am in profit, once I reach my target, R:R 1:1 or 1:2 or whatever, I will close my trade.

R:R = 1:1 SL 30 - TP 30

First Entry SL - 30 pips - Trade size 0.33

Price moves 10 pips against me
Second Entry SL - 20 pips - Trade size 0.5

Price moves another 10 pips against me
Third Entry SL - 10 pips - Trade size 1

So now...

Take Profit 1 = 30 pips = £10
Take Profit 2 = 40 pips = £20
Take profit 3 = 50 pips = £50

Every other trade is based on the first trade....

1st trade SL-30 and TP-30
2nd trade SL-20 and TP-40 (as price has moved -10pips from original entry)
3rd trade - SL-10 and TP-50 (price have moved -20 pips from original entry)

The key is position size.

good luck.............

The number of entries or exits used in your trade is not going to provide you an edge. Actually these things are more a function of your trading system, which in turn is a function of 'you'.
I read OP mentioning money management as a means to control risk and thus produce an edge. Which is incorrect, I know others have explained this better before (look up Hanover etc). So if this the basis on which you are going to put on your trades, then you might want to double check.
In the examples provided, lets say instead of price moving against you, it moves in your favor, what do you do? Well buy more (at a worse price!?), this is not pyramiding btw, because you are still only part of your original risk in, not full. So for every swing your way (which is actually price going south for you, at first!, before heading north), there is a swing against (price takes off in your favor) (lol @ the irony).

On the other hand if your system dictates multiple entries then by all means go ahead. I think you need to know the system you trade, try to understand the logic behind your methods and setups (order flow, indicators, S/R, PA whatever) and then figure out your entry strategy.

If you are working on a trailing buy stop entry in a falling market (could be temporarily countertrend to the trend on one higher time frame), lets assume you are also working on dual time frame momentum (and the momentum is up on the daily and oversold on the 1 hour chart), then when and if the price swings in your favor and takes out the last bars high, you can assume momentum has come back in line with the higher TF and you are 'put' into the trade by the market. Here I dont see the sense of multiple entries. Because the logic of my system will preclude that, either the signal is true or false, if it is false Ill wait for the next signal (not a better price), if its true im on my way. Hope this makes sense (bad at writing, sorry).

Im not saying multiple entries are not profitable, but in the sense described here, its a coin toss which method is better (all or partial) ie no edge.



http://www.forexfactory.com/showthread.php?t=201100 (you can check here for some cutting edge stuff, still trying to get my head around this one, but its interesting).