DislikedI am trying this for the 3rd time to see if I get any meaningful responses from those who now fully understand all the key aspects of this trading style. I don't want to hear your opinions but facts around what YOU do. What prompted this post is the fact that I experienced a 82 pip spread widening on eurnzd a minute before NZD interest rate decision last week taking out several of my BE trades bringing me very close to a margin call. During volatile markets, price can drop a 100 pips in a few seconds... we all know that. Massive Weekend gaps occur...Ignored
Try this. Go back and look at the last 24 daily ranges for your pair. Do not add to a position unless your profit exceeds the largest candle range of the last 24 days. In other words if you trade EURAUD, you should not add another leg until your prior leg is 370 pips into the black. Also remember that Gramae goes both long and short, and this is key to this strategy.
Women and children can afford to be careless, but not men. - Vito Corleone