DislikedOk Chaosbun. regarding the money management, for a long time i was using some different way for example 1:3 - 1:2 or 3:1 - 2 :1. Then i realized that for me the most profitable R:R is 1 :1 , but when i reach the profit i cut 3/4 of the trade and put the breakeven. But this way only for 4h or daily trading. Else in my scalping strategy i use a completely different way to manage the money. The focus is that if we open a position without sense we have 50 % to win and 50% to lose, with support and resistance we have more than 50 % to win. So i take...Ignored
The pro and cons of your scalping method is
Pros
1) Easy to make money
2) Adding position to a losing position will average your position
Cons
1) Easy to lose money too. As you add more to your loser, a trending market will kills your balance fast.
2) If your initial trade was open correctly, you only make 0.1 lot size worth, which is very little compare to if you put
0.1 + 0.2 + 0.4 which is 0.7 at your first position, you would make 7 times more.
3) When you open more and more position, the tendency of you close them in LOSS is very hard. because you already hold them very long, position 1 to 3, it will be
difficult for you to cut loss and you might face difficult situation.
I still suggest not to add to loser, rather you put a SL, if its hit, thats it. Try find another way to make back the money by looking for new opportunity.
But everyone got their own way of trading. I trade before your method so I know the pros and cons. I tried almost everything in the past and lose a lot of money.
Only until I change myself then I can achieve profitable months of trading.
Learn to Trade is Important. Keep your bias & ego aside.
I'm glad i pay that 2k to learn such a lesson though. I read up on it and understand that there's actually a term for it. Is call risk of ruin.Just to share. 
