Macros are too advanced for me. But looks like you made about 6% on the scalp? What would the gain be if you hit the 60 MP. How many normal pips in a Macro? Plus you still got Your GU trade open right? Pro is about to make some gains. Keep doing your thing.
1 "macro" = 1 pip.
For instance if you are risking 1% over 3 pips and your account size is $1,000 then 1 pip = $3.33
(.01 / 3)1000 = $3.33
A macro is then $3.33 divided into say SIXTEENS (.208/pip, $3.33/line)
If the trade is doing well then you narrow the lines by increasing your position size to:
After you adjust your position size then the lines are calculated from the last transaction price.
Obviously you cannot use 3 pip stops, but 3 line stops are very doable.
Guidelines for SL in Lines:
1's: 6 - 8
2's: 5 - 6
4's: 4 - 5
8's: 3 - 4
16's: 2 - 3
32's: 1.5 - 2
I like the original macro pip, which was just 10 micro pips. What happened to simplicity MO! Plus "you only use a sl if you want to get stopped out".
I like your old school stuff. Sl based of 1440 atr of 5min chart. Externals and OPM and going for big R:R. Add crash zones and double failures and thats all i need.
At this point in my trading journey im looking to just refine and polish what I already use. Learn to take less lower probability trades, reduce leverage and risk. High leverage and risk is fine for an account that was started with 100. But Im not using 500 to 1 leverage and 10% OPM risk on trades with a million dollar account.
But Im always open to new and more original MO price action. Love me some crash zones and double failures and I know you got more ideas in that head of yours.
Have you ever had your IQ tested. I would bet you would score very high. Was school super easy for u? Did u go to college (Harvard, MIT, Yale).