After a few positions have been triggered and are in profit setting the trades to a "basket" breakeven is something I am working on and it would have avoided any drawdown on the AUDCAD.Jemook wrote:
I'm still not convinced about scaling in. For example if this trade was a full position from the first entry it would be a little bit in profit rather than in a loss:
On the flipside, with the following NZDCAD position if my first entry was a full position I'd be in huge DD:
Anyway, 10.5 is very fun to trade. I still need to work out what sort of money management suits best for me
With the NZDCAD one, as you say, that would have been unpleasant with a single big lot position.
Definitely each to their own in terms of money management. For me the scaling in is far less risk and a no brainer for my risk appetite - the key challenge for me is when to set trades to BE, as if it is done too early you miss a lot of potential. As yet I haven't managed to get this right.
Cheers,
Dave.