Disliked{quote} This is why I personally add to my positions gradually, every 1 or 2 pips or so (sort of like how Billy compounds). That way if it is a false move, I still have enough gas left in the tank to gain, when it eventually moves one way or another. Take a 5 minute bar during a volatile time on a pair that moves. How long will price stay confined within that range without making a meaningful move to one side?Ignored
Do you book the profitable side of the counter as soon as you get the trigger for adding gradually to it ? Or do you then just add to it but keep the initial trade locked-in until your addings would have covered for it or even made a profit?
Itīs always good to have some gas left in the tank but at some point you have to decide where to either increase your position size that big so you will be able to compensate with a smaller move (less points) but risk that it will also move against you for even that bigger size then, or you added smaller to it and you then need to move it a far bigger amount of points in that one direction.
Took another trade to watch and learn. Initial TP was +5 long. It failed and moved against me. I locked it at -11.