ChrisEccles
Private, 1st Class
- Messages
- 47
When to add to a winning position ?
-
Let's say you're trading the 10-min charts and trailing your SL by
20 pips, and the trade is going in your favour.
What I always do is wait until the gap between my SL and my entry
is twice my SL, and then double my lots. This way, you're still stopped
for the same profit, but the trade from then on is worth double what it
was per pip. You can then do away with a limit target altogether and
just watch it fly.
You rarely encounter the opportunity more than twice in a trend (at least,
not in the EUR pairs that I trade) but it's sweet when you do !
-
Chris
-
Let's say you're trading the 10-min charts and trailing your SL by
20 pips, and the trade is going in your favour.
What I always do is wait until the gap between my SL and my entry
is twice my SL, and then double my lots. This way, you're still stopped
for the same profit, but the trade from then on is worth double what it
was per pip. You can then do away with a limit target altogether and
just watch it fly.
You rarely encounter the opportunity more than twice in a trend (at least,
not in the EUR pairs that I trade) but it's sweet when you do !
-
Chris
