Sometimes after I double price unexpectedly strikes back just to cancell both of my orders and eventually continue in direction I traded
(if I had not doubled I would be in profit). On the other hand, sometimes I wait too long and fail to double at all.
My best achievement till now is accumulation of 8 units over one week (starting with 1) and I would really like to improve this number
I was re-reading the thread from page 99 yesterday and one sentence attracted my attention:
MightyOne wrote: Once in a trade immediately plan your double.
Do you mean that I should literally decide where to double just a minute after my first entry?
The way I do it now:
- waiting for price to go in my direction
- waiting for a correction
- stretching fibo and placing 50% behind said correction thus obtaining new stop position and max price for double
As the process begins, well... not immediately after my first entry I decided to ask you for a little clarification on the subject.