Can you shed some light on how the basket trading works? So far all I've been doing is the simple 1 position with 1% risk with a single tp and sl.
I take it that for each individual position in a basket, it would be lower than 1%, so for example, you might put in 5 positions of 0.2% risk each? As far as im aware, you dont actually have a hard sl set do you? How/when do you decide to close losing trades? I think Rick mentioned there being some sort of pip counter where you close out a basket of trades if the aggregate goes say -5 pips or so.
I'd like to use the basket method, but i dont understand how you actually control the risk and exit criteria. please and thank you Also ty for your explanation of the p3 trades
