No Brainer Breakouts or How An Early Bird Catches A Worm

[JSSPMK]

Good intraday range now 1055.5-1053.5

just as an example

 

[Now is Now]

Quote from JSSPMK:

0.16*2.5=-0.4
0.32*2.5=-0.8
0.64*2.5=-1.6
1.28*2.5=-3.2
2.56*2.5=-6.4
5.12*2.5=-12.8
10.24*7=71.68

Total: +46.48

Nice, either way you "cut" it, but I do have to ask why the cover @ 5450...it is a little off the 5150 "whereabouts".

My 'exercise" done @ 6650 for original profit (5) on accumulated stake.

Look forward to Monday

NiN

 

[JSSPMK]

Quote from Now is Now:

Nice, either way you "cut" it, but I do have to ask why the cover @ 5450...it is a little off the 5150 "whereabouts".

My 'exercise" done @ 6650 for original profit (5) on accumulated stake.

Look forward to Monday

NiN

There is nothing wrong with taking profits early, as long as 2:1 has been reached. I took what was 'clearly' available at the time.

P.S. or even 1:1 as in your case, to protect capital.

 

[Now is Now]

Quote from JSSPMK:

There is nothing wrong with taking profits early, as long as 2:1 has been reached. I took what was 'clearly' available at the time.

P.S. or even 1:1 as in your case, to protect capital.

Understand ...the key being 2:1 profit

 

[JSSPMK]

Quote from JSSPMK:

Good intraday range now 1055.5-1053.5

just as an example

Bingo!

 

[JSSPMK]

Quote from Now is Now:

Understand ...the key being 2:1 profit

Once price goes past 2:1 you have 2 obvious choices either to wait 'till death do us apart' ie let it run as far as you can & then lock gain or if you are wrong trail stop to 2:1.

 

[shikantaza]

Quote from JSSPMK:

Once price goes past 2:1 you have 2 obvious choices either to wait 'till death do us apart' ie let it run as far as you can & then lock gain or if you are wrong trail stop to 2:1.

Or the less obvious, pyramid, tighten the trail stop and go for the jugular.

 

[JSSPMK]

Quote from shikantaza:

Or the less obvious, pyramid, tighten the trail stop and go for the jugular.

That's an evil cousin of 'till death do us apart'

 

[shikantaza]

Quote from JSSPMK:

That's an evil cousin of 'till death do us apart'

Right. It's a coincidence that it worked this time around.

 

[xburbx]

that was a nice call regardless. how deep can you let the whips go on the 2x? For instance if you take a micro account on forex which starts at .10/pip. If you take a range of about 30pips, you still suffer $3.00 DD to start. The progression is so fast that it seems small, but around 8 or 9 you have gone to a sizeable trade that could easily wipe out all prior trades in the month. I'm not doubting this method, I'm just curious to know how you would deal with it. I think the approach is very interesting.

Entry - $3.00
1touch - $6.00
2touch - $12.00
3touch - $24.00
4touch - $48.00
5touch - $96.00
6touch - $192.00

By your 6th touch on a $2,000 account you have gone from a .25%ish DD to a 10%DD.

Any ideas ?