MightyOne wrote:newark18 wrote:I am missing something about my trading strategy. I don't what it is yet but I am very inconsistent. I can catch big moves sometimes but I also get stopped out a lot. So I am trying to choose between a lower SL or a much bigger one. Very frustrating to say the least.
If you scale in then you do not need a stop loss.
I could have 92% losses, not use a SL, and still make a fat profit.
The scaling in concept has been talked about before. Assuming that I have 10K in my account. I want to risk 4.5% so that is $450 total risk in dollars. What would my initial entry amount and SL be? $5 per pip and 90 SL? And scale in as it passes certain S&R lines? Or should I be thinking a smaller entry amount?
Your example where you could have 92% losses is predicated on holding your trades for long periods of time. I don't know if I am determine LT directionality.
Anyway, here are two attempts to short at a FC.