DislikedI experimented with 2 ways of recovery trades last week.
1. Lock and Unlock
Where the logical StopLoss would be placed, a pending order in opposite direction with same lotsize as active order is placed. ( no StopLoss, no TakeProfit )
2. No hedge, just start recovery 100 Pips or whatever distance you choose.
I personally prefer method 1 and I combine it with method 2 in this way:
All the way to the distance where I plan to start the recovery trade,
my "lock"-position is collecting profit.
I close it with good profit when I place...Ignored
Very interesting, but how to know when it is time to unlock the order (It is very subjective)? What would it be a good profit? Could you describe your method?
Thank you...
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