Hi everyone --
I'd be interested in thoughts on this idea -- it might be ridiculous in its simplicity, but then again it might work.
Open 2 trades, 1x LONG, 1 x SHORT, tp=sl+1
SL = 0.5 x ATR
Chart: 15 min
The idea being that the market will move more aggressively and leapfrog the trade position closing out in profit, ie. if ATR=15 and You have a TP of 7 the chases are more often than not you'll close out with a small profit each trade.
On some occasions you'll hit SL on Trade A and Trade B but if TP/SL distance is short and ATR is much larger this shouldnt happen often.
Mad or merit?
Thanks
Ryan
I'd be interested in thoughts on this idea -- it might be ridiculous in its simplicity, but then again it might work.
Open 2 trades, 1x LONG, 1 x SHORT, tp=sl+1
SL = 0.5 x ATR
Chart: 15 min
The idea being that the market will move more aggressively and leapfrog the trade position closing out in profit, ie. if ATR=15 and You have a TP of 7 the chases are more often than not you'll close out with a small profit each trade.
On some occasions you'll hit SL on Trade A and Trade B but if TP/SL distance is short and ATR is much larger this shouldnt happen often.
Mad or merit?
Thanks
Ryan