Monday, June 13, 2011

Extension

On the second trade of this, 1/4 of position was closed as soon at it got positive, at +1. I had the fear that price had overextended north, so a correction was very probable. Despite that I left the rest of position to run with stop at breakeven and closed 1/4 at +10 and the resting 1/2 at +10 also but a few moments later.

2 comments:

Anonymous said...

Hi,

Just out of curiosity, have you been using this scaling out method for a while? This is what I typically do to and just wondering what your thoughts are on the technique.

J

Yadav said...

We always need be caution in our approach, as if we try to do anything over the top or unnecessary then we could suffer heavily, so just got to be very wise. I trade with OctaFX broker and with them; I am able to work it out all very nicely because of the luxuries conditions present. This is especially from having lowest possible spread starting at 0.1 pips while there is also smooth trading platform, so that really enables me to work nicely.