LeMercenaire wrote:BlindMan wrote:Hope you all had a nice Christmas!
Back on topic a little bit. I'm working on a few ideas regarding trade management, with the concept of "price moving away from a line". The set & forget approach never worked, so it's a good time to rethink trade management, and ways to actively manage a trade. I don't expect it to work, but I expect to learn from it. Will post again soon .
To paraphrase Mighty One: ''If you're in a running trade and not wiling to add into it, you may as well just close it.''
Once you realise the power of that concept, you will be well on your way to your goal.
yep , (lot)size matters .. trade less make more.
although i understood MO, i never got the grasp with their eights indi.
lately done some coding on an indi which tells me how much i may add.
idea is that for example i go short eurusd at 1.15 and i have moved my sl to 1.1473
and price is now at 1.1441 and i want to add, how much can i add so that the sl of the new trade is also 1.1473
and the whole (all trades) is at break even.
so only risking floating locked in(by sl) opm (still a risk because price can speed over your sl)
now testing it, and still a little rough(not taken in account swap&commission)
b4 i did some calc in excel, which is clumsy and messed things up.
maybe such indicator already exist, but couldn't find anything ...
time to "Taking off the brakes" .... and now without accidents.