Nope, just like you say.billv » Tue Dec 19, 2017 9:57 pm wrote:Hi GertjeGertje » Wed Dec 20, 2017 7:47 am wrote:
After the initial trade is triggered from the pending, I set the TP @ 50/75/100 pips, depending on the MarketDistancePips of the pair.
Then I set a new pending at the TP-price, with the same TP-pips.
This untill I reach the original TP-level.
I find this hard to understand
If you put your new pending where you took profit, you would only get continuation of the original trade, minus your new entry costs
Or do you mean that PoS is placing the new pending order automatically and at a better price?
The thing is that in order to bank 400-500 pips in a single trade, the floating profit goes up and down like a rollercoaster. When banking at said interval, I get at least the wanted pips, plus the additional when [not if] a retrace happens. The entry costs are negligible in my opinion.
To aid my explanation, see below picture.
At the blue boxes there are multiple trades banking 75pips at the same level, where a single trade from the bottom to the top would have been floating, earning nothing.
Good for him, so many traders, so many styles to trade.Fxfoil was talking to me about spacing pending orders and he wrote the following
" I believe it will be vastly better if instead of the default 100/2 consistently creating a pending every 50 pips, adding extra pips to the previous pending, as well as using a divide /3 will expand the distance between each pending, and increase the retrace required to fill it.
Most times two or three pendings are all that are required. However if the initial trade is going to travel 2000+ pips and has several mini retraces of 50 pips, then many pendings will be filled with account destroying potential. Expanding the distance between each pending as well as increasing the retrace distance back to the last pending will reduce the number of filled pendings until a genuine trend reversal occurs. So far my worst initial trade traveled 900 pips into dd with only one other pending filled until the trend reversed."
I [try to] limit the DD by dividing the pairs in groups depending on their 6-th distance. IF a pair respects its 6-th limits, then I get 3-4 recoveery trades.
Recently, I found out they don't respect the limits at all...
After switching the focus to the D1, the performance improved. I recovered from 40% DD after that.
For me reason enough to keep the focus on the D1 chart, and trade in the direction of that and making use of the retraces to re-load the pendings at levels that already TP before.
Remember, this is a live account....
