Just a few thoughts about your scaling-in method.
When you first do your PVSRA analysis & find a market you want to start entering, why not just draw a horizontal line @ the point where you would normally take your first entry (EP1). Continue to do this until you get to EP5. At that point, enter 5 positions. Now you're at break even with your 5th EP so no drawdown. If price goes in your direction before you get to EP5, you probably aren't missing much with less than 5 positions anyhow so no big "missed trade". Now from EP6 to EP10, you can either draw lines & add 5 more @ EP10 or draw lines for EP6 & EP7 then for EP8 take 3 positions. If you don't get to EP8 & market moves in your favor, you have 5 positions you can leave run for profits. Above EP15, draw just one line then take 2 positions on the next entry signal so you are more aggressive as you are at better prices. Above EP20, space entries farther apart (50 pips) & set a profit target of 50 pips on each entry so you might keep the position size from getting too uncomfortable. Better to take 50 pips profit on one position then re-enter that position if price should return to the original entry. Sort of a scalping method within your position building.
Just my thoughts on ways to reduce the drawdown if uncertain about when to start the scaling-in.
When you first do your PVSRA analysis & find a market you want to start entering, why not just draw a horizontal line @ the point where you would normally take your first entry (EP1). Continue to do this until you get to EP5. At that point, enter 5 positions. Now you're at break even with your 5th EP so no drawdown. If price goes in your direction before you get to EP5, you probably aren't missing much with less than 5 positions anyhow so no big "missed trade". Now from EP6 to EP10, you can either draw lines & add 5 more @ EP10 or draw lines for EP6 & EP7 then for EP8 take 3 positions. If you don't get to EP8 & market moves in your favor, you have 5 positions you can leave run for profits. Above EP15, draw just one line then take 2 positions on the next entry signal so you are more aggressive as you are at better prices. Above EP20, space entries farther apart (50 pips) & set a profit target of 50 pips on each entry so you might keep the position size from getting too uncomfortable. Better to take 50 pips profit on one position then re-enter that position if price should return to the original entry. Sort of a scalping method within your position building.
Just my thoughts on ways to reduce the drawdown if uncertain about when to start the scaling-in.
-tah
