Hey Tactaob. Well I am not just conservative in my approach.... So that I wouldnt recommend anything. Remember I am a noob.Originally Posted by ;
To answer your question. I begin with 1 or two depending on how much room I believe there is until the degree of heavy resistance. I 1 microlot into my position every 100 pips succesfully obtained. When doing this theres a possibility of getting burnt, but so far its worked out okay.
I always use stops /trailing stops when trading. This is something I incorporated into my own trading. Being a newcomer and all, I hated when my stop was hit and then bounced back to continue the original trend. Though its bothersome, its something I've learned to live with though as its significantly limited losses. I attempt to let my profits until I am stopped out as ride, theres no reason out a position if the transactions gaining profit. (Today I closed out a position prematurely only to get it gain the following 200 PIPS!) I'd have left 600 though because I was long 3 lots... err oh well I made money)
In closeing ... microlots SUCK! ... to be truthful. However, its the only way I can stay disciplined enough to not risk a great deal. Even trading lots I am not just following the protocol up to how much you must risk per transaction. If this really was a mini account I'd be.... Should I say .... BAALLLLINN!!
FYI.... I Found JACKO, and threads that were James16 to be incredibly useful in my trading egy. I'd reccommend reading them.
I gotta go for now .... I'll be posting. I was able to loe a template setup that I am quite happy with so far. I can post it after.
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