DislikedThe way I am demoing is that I work out how big my top loss needs to be by protecting it behind a bar high or swing point. Once I have done this I can work out the amount I am going to trade in order to stay in my money management plan.
Once I have done this I place 2 orders. I place 3/4's or say 2/3's of the trade amount for example on the first trade with stop loss set and a limit order set at the FTA so that once the price hits the FTA the trade is closed.
The second order has 1/4 or 1/3 placed on it with the stop loss but no limit order so...Ignored
Thanks for reply. Could I just (in my ignorance) clarify a couple of points:-
1 When you say you protect your stop loss bbehind a bar high or swing point, do you regularly put the stop behind the bar which makes the breakthrough.
2 Could you clarify what placing the limit order at the fta means and how this closes the first trade. e.g. if you place a buy order at say 1.0010 and fta is 1.0050, is it a buy limit or sell limit you place at 1.0050?
Many thanks for your help.
M