Well, the result of my each way trade is shown in the chart below to follow up from the one I posted before going to bed, and shows the dangers of placing that type of trade.
Both orders were triggered to open and then closed for a 20 pip stoploss before the market when on to swing down to complete the target for the short trade. Result: total 40 pip loss.
Bad choice of buffer between pre-existing price range and order entry triggers - didn't allow for enough volatility. (A cynic might say the market maker played me, but I'm not cynical). At least I got my target right with the target for the short entry subsequently getting hit on a 2nd swing to the down side.
I've done this kind of trade a number of times now and mostly with success, but its all about setting that initial buffer for the pre-move volatility.
Cheers, Sharks.
AUD
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