Can you use unrealized profit from a Limit order to open more positions in an account?

[virtusa]

As a footnote, until you "realize" your profit (close it), your FCM will not allow the entire positive open position MtoM equity to be used as margin.

To get around that problem:
wait till you see a retracement. When the retracement starts, close you position and put an new bigger size order at a slightly better price in the market. In a retracement your new order will normally always be executed. You will have now a bigger size position and the cost to do the "roll over" is entirely absorbed by the new order placed at a slightly better price.
Don't be greedy, just put the new order 1-2 ticks under the exit of the first trade. It is more important to get in again than to try to take extra profit on the re-enter and miss the trade...

And your broker (Bone) will be happy as he makes extra commission...

 

[bone]

That's a great point. You can also use scales to move in and out of a winning position.

Adding to winners is how the real FU money gets made.

At least from my experience, one of the problems with adding to losers is that the original trade idea gets thrown out the window and it devolves into a "break-even" exercise.

To get around that problem:
wait till you see a retracement. When the retracement starts, close you position and put an new bigger size order at a slightly better price in the market. In a retracement your new order will normally always be executed. You will have now a bigger size position and the cost to do the "roll over" is entirely absorbed by the new order placed at a slightly better price.