pain wrote:TheRumpledOne wrote:pain wrote:....
i'm not sure how to use daily mid dots as a bias for daily breakout trades.. in order for it to break out doesn't it already have to be above/below the previous midpoint? ...
Use the PREVIOUS DAILY MIDPOINT as the bias! Long above, short below.
todays breakout trades:
both hit first tp, then be+6. back in the green.
will now start to do some mid dot trades. price above/below daily mid dot= bias, h1 open above/below h1 middot= trigger. will update later, with pictures of trades taken, and the profit/loss. i'll be using different sl, and no tp, and risking .1% max.
10 pip sl, 5 pip scale out+be+1, 10pip be+5, 15pip be+10, after that maybe just a trailing stop.
If what you are doing is profitable then DON'T CHANGE A THING!!!