I might add something positive when I see the new EA and okay with it.Pooler wrote:Forexman1972 wrote:The problem with this strategy is by the time you get to high levels eg level 10 your take profit is almost 100 pips away.
You keep saying strategy 1 can't lose, no strategy exists, unless you have unlimited margin and can keep positions opened for years.
Forexman1972,
You have anything positive to add at all? What would you suggest as a solution?
As I said this strategy will work fine until you get a big burst and the market doesn't retrace enough. Who knows you might be on level 20 and then what happens you probably run out of money, you won't be sleeping well that's for sure. At this level you would need a very large retracement to get out if it.
You could try adding more hedges on as the market move out of your favour perhaps?
You could certainly increase your position by more than + 1 at later levels which will lower the take profit level but of course increases risk by more.
Or you could change the level distances by making them tighter as you increase levels eg Instead of at level 7 for example maybe you could split it I half eg sell 3 at 157 and 4 at 157.4. This might mean you you can capture some of the retracement within the level in case it retraces . Otherwise if it doesn't hit your level 6 TP it hen moves away again and take profit widens.
Just some random thoughts whilst I sit on the train.
