Would you have drilled down to the 5 min (or lower) to catch that move or did you have a limit order ready? I was watching at the time and it was a news driven move and as a result decided to watch instead of trade though i did catch a move earlier.
Is that cumulative total of P$Ps at $max until +0, +00, etc.?
EDIT: the quotes aren't working properly. I'm referring to the two previous posts you made.
If a small chart is moving sideways then I move to a larger period.
You want to trade smaller charts when they are making long up & down "mini trends".
M10 or M15 is perfect for me as my smallest chart.
I only use limit and stop-limit orders.
Below you can see that it takes 72 pips to reach the first waypoint at P$P size ($max).
If you do not resize, based on the next waypoint, then the next target is 87.23 pips away
or a total move of 159.23 pips.
It is just meant to show you what size of a move it would take to clear multiple targets in
I was also wondering how many currencies/instruments you trade? Do you have a specific amount or do you scan through different charts until you see something you like?
That is a difficult question to answer.
Let's say that there is one currency where you believe strongly in the daily chart but are given little movement to accumulate.
You might trade another (or even two) more active pair, make the necessary adjustments, & then stack the space onto the less active pair so
that you can continue to pump it up.
There might even be a number of micro gambles out there working their way across the galaxy.
...my answer is: up to 3 actively traded pairs.
As far as selection I start with currencies that I am intimately familiar with.
Next I go through the monthly/weekly charts and set alerts (turn off expiration) as if they were limit orders;
if there is a monthly body in the direction of profit and price retraces 130 pips to the breakin then I might
want to know about it
Stop location comes first, then accumulation & %'s.
The positions on actively traded charts are not held over the weekend.
Excuse the chaos, I threw this post together while doing other things.