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RickM well done on USDJPY call, I made some good profits with 3...

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GenYtrader2000

264 Posts.

12/07/18

14:51

Post #: 34302981
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RickM well done on USDJPY call, I made some good profits with 3 entries, MEME in action

I added when 5M made new higher highs.

Cheers keep up the good work..

Originally posted by RickM ↑

It’s purely a money management strategy that buys and sells at fixed intervals then takes profit at the average price of all trades plus half a days average daily range. For example I am long on GBPJPY, last night it retraced 80 pips which my EA brought at a larger lot size. That gave me two Buy orders with the second order being larger. Then when it moved back on trend, it closed all orders around 2am for a nice 2.5 times normal profit. Then it re- enters long again. That means I get to make money on a trend two or even three times while a normal trend trader only gets it once. I am away from my computer at present but will show you the chart tonight. It doesn’t waste pips but yo need to be able to master the weekly candle setups or you can get burn.

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