alex84 wrote:I agree if they are logical or psy levels based entries, not 10 pips grid based on nothing, i don't see where is the advantage as the tp is far from all this multiple entriessponn wrote:Multiple entries are the mainly advantage of 10.4/10.5 system, aren't they ?alex84 wrote:
what is the interest of using this scaling instead of putting one pending only on a chosen line (S R pivot so on) ?
You collect pips in cases of a reversal but only if you have close tp which is not your case here ?
A pivot, a S or a R makes sense to put another entry and make more pips, because you went through a level that is proven, but what about a grid of 10 pips ?
Yeah you have absolutely right. But 10.4 levels were to far each other. Bacause of this we usually have got not more than 2 entries and TP on third line. With 240 line SL it was not easy to find even 1:1 RR trades (of course with 2 entries eben 1:1 was enoguh). I believe that was the reason of 10.5 with daily lines - allowing to open 2-4 trades into one weekly pivot zone. Now some users trying to catch even more with some grids.
When you check your chart you will find that weekly or daily lines work maybe in 50% as turning points. So the chance that price will break fe WS is around 50%. That's why people are using multiple entries wand WS/WR as target (Jemook trade like this), some are using last day S/R, some just daily lines, and our Great Mentor is not using the lines but time of the day as a close signal. So... looks like buy above 240 and sell below 240 is the only rule that everybody is using
I believe that we should move all posts without pics of trades to 10.4 discussion thread.
). On the drop of RSI to below 20, I took a pending buy stop at the green arrow, and my heart almost stopped when it dropped 50 pips. Thankfully it bounced and I managed to exit at the blue arrow.
)
beaten to it.