Disliked{quote} Thanks Emmanuel! I've noticed you seemed to be a lot more focussed on LTF at the moment. I see you also got a good entry on M15. Good job Whats TP3? +100? I had a play with some numbers yesterday for multiple lot entries. I think your 25/50/100 system is a nice setup for intra-day trading. I trialled a few systems: System 1: SL1=25 pips, TP1=50 pips SL2=25 pips, TP2=100 pips System 2: SL1=25 pips, TP1=50 pips SL2=25 pips, TP2=100 pips SL3=25 pips, TP3=150 pips All open positions moved to BE after price moves to +50. Whilst system 2 worked...Ignored
I trade H1 intraday often during the week but my my main trading income is from H4 swing /D position trading. Recently a few people asked me about M15/H1 trading so I post these as I trade.
I think a SL of 25pips is too tight for EURAUD pair. The hourly volatility is between 30 and 50pips during the London session.
If you use a SL of 50pips for all positions that will by your Risk 'R'. The daily volatility is above 100 pips, so when we get a good reversal entry, this 100 pips is easily reached.
You can consider your exit percentage of the trades.
TP1 to exit 50% at +25pips that will give you 1R (2 x 0.5R)
TP2 to exit 25% at +50pips that will give your 1R.
TP3 to exit 25% at +100pips that will give you 2R.
The win rate for TP1 is very high above 85% and this is very important to use multi-lot entry.
Exit management:
- you can consider reducing risk for TP2 by moving its SL to -25pips(0.5R) after TP1 exit.
- also TP3 can be reduce the same way or you move only when market move 50pips (1R).
You can use this same money management and exit strategy for higher TF trading.
regards,
Note: we have AUD rate annoucement today, a crucial one... if RBA reduces rate now.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett