Dislikedhi redsword, for the first time i'm trading without stops. i had a sell and didn't close the trade with a loss of 20 pips. instead of my normal behavior i opened another sell 30 pips above.
would you have done this in the currecnt situation of usdchf also? or would you have taken the loss of 20 pips? perhaps you could comment my "rescue-strategy".
thanks!
http://img62.imageshack.us/img62/1850/201110251.gif
edit: i'm out of the whole position with +1 :-/Ignored
to a degree its an unfair question.........wasn't in the trade so dont really know how l would react
however, adding higher in this situation you have to use the correct ratio of position sizing to bring yourself out at either breakeven over all or a lesser loss
or even profit if you loaded the upper add
........ on a note from your chart, your lower position should have a take profit placed @ the entry as soon as it against you to be safe. You have not done that as it appears on you chart